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Professor Glass is hired by Towers University to teach business law at a salary of $3,000 per month.After school
has been in session for two months, the Business Administration Building is destroyed by fire.The University refuses to pay him any further salary, claiming they are discharged from their obligation of performance.Is the University discharged from its obligation of performance? Is Professor Glass discharged from his obligation of performance? Explain, citing the legal principles involved.
Contract Modification
Any change or alteration made to the terms of a contract, agreed upon by all parties involved.
Price Change
The fluctuation in the selling price of goods or services over a period of time.
Moral Obligation
A duty or commitment that is not legally enforceable but is dictated by personal ethics or social norms.
Adequate Consideration
Sufficient value that is fairly exchanged between parties in a contract.
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