Melvin enters into a 10-year contract with George for the use of George's boat three times each year from June to September. The contract specifically states that the contract cannot be modified. After a few years, George decides that he no longer wants Melvin to be able to use the boat in September. Melvin agrees to limit his use to June, July, and August, in exchange for a small reduction in
the yearly rent. In the seventh year of the contract, Melvin notifies George that he wants to use the boat in the first week of September. George tells Melvin that he can't use the boat, because they modified the contract. How could Melvin and George change their boat-lease agreement without running afoul of the no-modification clause in their agreement?
What will be an ideal response?
They could agree to rescind the agreement completely, and then enter into a new rental agreement on the modified terms.
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Explain why this is the case.
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Answer the following statement true (T) or false (F)
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Answer the following statement true (T) or false (F)