What does remission mean in a contractual context?

In a contractual context, remission refers to the acceptance of a partial performance or a lesser fulfillment of what was originally promised in the contract. This means that a party may agree to accept less than what was stipulated in the agreement and thus relinquish the right to demand full performance.

This concept is often applicable when circumstances change or when it becomes impractical for one party to fulfill their obligations as initially outlined. By accepting this reduced performance, the aggrieved party acknowledges the new terms of the agreement, which can help maintain a working relationship and can also serve to prevent disputes.

The other options do not accurately capture the essence of remission. Full acceptance of contractual terms implies no deviation from the agreement, refusal of all contractual obligations suggests a total withdrawal from the contract, and demanding complete performance indicates a strict adherence to the original terms without allowance for any modification.