Which Two Factors Have Contributed to Joint Ownership of Large-Diameter

question 16

Multiple Choice

Which two factors have contributed to joint ownership of large-diameter pipelines?

• A) high variable costs of ownership and low rates
• B) economies of scale and high fixed costs of ownership
• C) government regulation and development funds
• D) rail competition and the growth of domestic water transport

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Definitions:

Adequate Remedies

Legal solutions or compensation that are considered sufficient to remedy a breach of contract or violation of rights.

Commercial Impracticability

A doctrine in contract law allowing parties to be released from their obligations due to unforeseen events that make execution of the contract excessively burdensome.

Frustration of Purpose

A doctrine in contract law that excuses performance of a contract when an unforeseen event undermines the contract's original reason for existence.

Liquidated Damages Clause

A contractual provision that specifies the amount of damages to be paid if a party breaches the agreement.