Argentina in 2001 Faced a Debt Problem More Serious Than

question 150

Multiple Choice

Argentina in 2001 faced a debt problem more serious than the U.S.debt problem because Argentina was obligated to repay its debt in

• A)U.S.dollars.
• B)their own currencies.
• C)a relatively short period of time.
• D)large installments.

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Definitions:

Substantial Performance

Contract performance that occurs when nearly all the terms of the agreement have been met, there has been an honest effort to complete all the terms, and there has been no willful departure from the terms of the agreement.

Unforeseen Circumstances

Events that a reasonable person would not be expected to anticipate.

Hybrid Rose

A type of rose plant specifically bred for certain desirable qualities, such as color, fragrance, or resilience, by crossing different types of roses.

Warranty of Quality

A guarantee that a sold product will meet specified quality and performance standards.