Commercial Impracticability Means Some Event Has Occurred That Neither Party Anticipated

question 2

True/False

Commercial impracticability means some event has occurred that neither party anticipated and fulfilling the contract would now be extraordinarily difficult and unfair to one party.

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Definitions:

Welfare Dependency

A situation where individuals or households become reliant on government benefits for their income over a long period, potentially disincentivizing employment.

Poverty

The state of having insufficient financial resources to meet basic living needs such as food, shelter, and healthcare.

Cost-Of-Living Adjustment

An increase in income or benefits designed to offset inflation and maintain the purchasing power of individuals, often applied to wages, salaries, and social security benefits.

Rate Of Inflation

The percentage increase in the general price level of goods and services in an economy over a period, indicating the rate at which purchasing power is eroding.