Supervening Illegality of the Object of a Contract Occurs in Which

question 21

Multiple Choice

Supervening illegality of the object of a contract occurs in which of the following circumstances?

• A) The illegality existed when the offer was made.
• B) The object of the contract is illegal where made,but would be legal in another location.
• C) The object of the contract is illegal to be performed by the offeree,but could be legally performed by a different party.
• D) The object of the contract was legal when the offer was made,but has subsequently become illegal.
• E) The offeror had an honest and reasonable belief that the object of the contract was legal when the offer was made,but later learned that the offer was illegal.

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Definitions:

Economies

The system by which goods and services are produced, distributed, and consumed within a particular area or community.

Basic Types

Basic Types refer to fundamental categories or classifications used in various contexts, such as programming, economic goods, and more, depending on the specific field of study.

Externality

An economic side effect of a good or service that generates benefits or costs to someone other than the person deciding how much to produce or consume.

Invisible Hand

A term coined by economist Adam Smith to describe the self-regulating nature of the marketplace, where individual self-interests unintentionally benefit society at large.