Which of the Following Statements Is TRUE

question 58

Multiple Choice

Which of the following statements is TRUE?

• A) Limitation periods exist because it is undesirable for courts to rely upon evidence that is old and perhaps unreliable.
• B) Because of its effect upon the parties, bankruptcy always leads to frustration of a contract.
• C) The doctrine of waiver may apply in connection with a condition, but not a warranty or an innominate term.
• D) The doctrine of frustration applies only if the circumstances have changed so that performance, as originally intended, has become impossible.
• E) Bankruptcy always discharges a person from performing a contractual obligation.

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Definitions:

Demand

The amount of a product or service that buyers are ready and capable of buying at different price points.

Public Utilities

Companies that provide essential services such as water, electricity, and telecommunications to the public, often under government regulation.

Electricity

A form of energy resulting from the existence of charged particles such as electrons or protons.

Oil

A natural fossil fuel composed primarily of hydrocarbons, used globally as a primary source of energy and in various industrial applications.