A Contract Is Terminated by Agreement in Which of the Following

question 72

Multiple Choice

A contract is terminated by agreement in which of the following situations?

• A) Breach
• B) Frustration
• C) Unilateral release
• D) A written statement by one party to cancel an accepted order
• E) The occurrence of a condition subsequent

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Definitions:

Specialized Tasks

Distinct components of a job designed to be performed by individuals with specific skills or training, often to increase efficiency.

Coincidence of Wants

In barter economies, this refers to the situation where two parties each possess an item the other wants, making an exchange possible without the need for money.

Medium of Exchange

An intermediary used in trade to avoid the inconveniences of a pure barter system.

Specialization in Production

The process by which individuals, businesses, or countries focus on producing a limited scope of goods or services to gain greater efficiency and quality.