Miller Has a Contract to Sell 1,000 Bushels of Wheat

question 9

Multiple Choice

Miller has a contract to sell 1,000 bushels of wheat to a bakery.The wheat is stored in a grain elevator and has become infested with insects.Miller is:

• A) discharged from performance because of impossibility if he doesn't have other wheat to substitute.
• B) discharged because of frustration.
• C) not discharged,but must substitute wheat or pay damages to the bakery for breach of contract.
• D) discharged if he can prove that he did not cause the damages to his wheat.

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Definitions:

Borrowing Rate

The interest rate or cost that a borrower pays to secure funds from a lender.

Expected Value

The calculated average result of all possible outcomes of a particular investment or decision, considering both the probability and the impact of each outcome.

Risky Portfolio

An investment portfolio that contains assets with a higher degree of volatility and potential for loss, aiming for higher returns.

Standard Deviation

A statistical measure that quantifies the variation or dispersion of a set of data points.