Complications Can Give Rise to Frustration of Contract

question 17

Essay

Complications can give rise to frustration of contract. When these complications are avoidable, the court will not likely make a finding of frustration of contract. Comment on what a prudent businessperson could do to minimize the risk.

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Definitions:

Iguanas

Large, herbivorous lizards native to Central and South America, known for their distinctive appearance, including dorsal spines and dewlaps.

Elastic Demand

A scenario in which there's a notable shift in the demand for a product or service due to a variation in its price.

Total Revenue

The entire amount of income generated by the sale of goods or services before any costs or expenses are deducted.

Output

The total amount of goods or services produced by a firm, industry, or economy in a given period.