As a Result of the Panic of 1857,the South

question 55

Multiple Choice

As a result of the panic of 1857,the South

• A) became more economically dependent on the North.
• B) became hostile to Wall Street and the stock market.
• C) believed that it was economically superior to the North.
• D) began planning for an independent southern nation.
• E) saw the need to develop manufacturing.

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Definitions:

Business Processes

Sequential steps or tasks undertaken by a company or organization to achieve specific business objectives or deliver services/products.

Substantial Performance

A contract law principle that allows for partial enforcement of a contract when most, but not all, aspects of the contract have been fulfilled.

Impossibility

A legal defense where a party claims it was not possible to fulfill the terms of a contract due to unforeseen circumstances.

Commercial Impracticability

A legal doctrine that excuses a party from fulfilling a contract due to unforeseen and extreme difficulties or expenses.