Provide Three Examples of How Discretion Is a Key Element

question 6

Short Answer

Provide three examples of how discretion is a key element of court decisions.

Comprehend the concept of tender of payment and its implications in contract law.

Identify the factors leading to the frustration of a contract and the consequences thereof.

Describe the processes and conditions under which a contract can be amended or discharged.

Understand the role of specific legal clauses such as force majeure, condition subsequent, and frustration in contracts.

---

Definitions:

Aggregate Supply Curve

Represents the total supply of goods and services that firms in an economy are willing to sell at a given price level in a certain time period.

Upward Slope

In economics, it typically represents an increase or positive trend in a graph, such as rising prices or increasing production over time.

Keynesian Economics

A theory that advocates for increased government expenditures and lower taxes to stimulate demand and pull the global economy out of depression.

Downward Rigidity

A situation in economics where wages or prices are resistant to decrease even in conditions where they logically should, such as during a recession.