In Smoothly Running Parliamentary Systems

question 35

Multiple Choice

In smoothly running parliamentary systems:

• A) votes of confidence take place frequently
• B) parliament members vote their consciences
• C) the prime minister is constantly concerned about being replaced
• D) coalition governments contain three or more parties
• E) the cabinet dominates the parliament

Describe the processes and conditions under which a contract can be amended or discharged.

Understand the role of specific legal clauses such as force majeure, condition subsequent, and frustration in contracts.

Recognize the principle of specific performance and conditions under which it applies.

Analyze scenarios for potential breaches of contract and identify applicable legal defenses.

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Definitions:

Liquidity Preference

The desire to hold cash or easily convertible assets rather than investments that might be harder to convert into cash.

Interest Rate

The amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets.

Loanable Funds

The money available for borrowing in the financial markets, corresponding to savings that are lent out for investment.

Liquidity Preference Theory

A theory suggesting that people prefer to hold their wealth in liquid form for ease of spending but are willing to accept less liquidity for a higher return.