Because of the Harshness of the Common Law Rule Regarding

question 10

Short Answer

Because of the harshness of the common law rule regarding impossibility of performance, the Uniform Commercial Code (UCC) in certain cases allows a contract to be discharged under the doctrine of ____________________.

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Definitions:

Compounded Monthly

It's the practice of assessing interest each month, by adding up both the initial amount invested or borrowed and the subsequent interest that's accumulated over time.

GIC's Maturity

The fixed date when a Guaranteed Investment Certificate (GIC) expires and the principal amount is returned to the investor along with the accrued earnings.

Invested

The act of allocating resources, usually money, to generate an income or profit.

Compounded Monthly

The process where interest is calculated and added to the principal sum of an investment or loan on a monthly basis.