With Regard to the Interpretation of a Contract,what Priority Is

question 68

Essay

With regard to the interpretation of a contract,what priority is given to each of the following items?
(a)
Course of dealing
(b)
Usage of trade
(c)
Express terms
(d)
Course of performance

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Definitions:

Price

The price in money expected, obligatory, or rendered for acquiring something.

Law of Supply

A principle in economics stating that as the price of a good or service increases, the quantity supplied also increases, assuming all other factors remain constant.

Interest Rate

The cost of borrowing money or the return on investment, expressed as a percentage of the principal.

Quantity Supplied of Loans

The total amount of loans lenders are willing to provide at a given interest rate during a specific time period.