Unless One of the Parties Contractually Assumes the Risk, the __________

question 60

Multiple Choice

Unless one of the parties contractually assumes the risk, the __________ discharges a contract if supervening circumstances make fulfillment of the purpose which both parties had in mind impossible.

• A) bankruptcy law
• B) frustration of purpose doctrine
• C) perfect tender rule
• D) impossibility of performance doctrine

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Definitions:

Market Forces

Market forces are the economic factors affecting the supply and demand of goods and services in a market, influencing prices, production, and distribution in a capitalist economy.

Employer-Initiated

Actions or policies that are begun or implemented by an employer, often relating to workplace management, changes in operation, or employee relations.

Bargaining Impasse

A situation where the parties involved in negotiations are unable to reach an agreement, leading to a deadlock.

Lockout

An action taken by employers to prevent workers from entering the workplace during a labor dispute, essentially reversing a strike.