Customs and Trade Usage Can Override the Express Provisions of a Contract

question 15

True/False

Customs and trade usage can override the express provisions of a contract.

---

Definitions:

Income Elasticity

An indicator of the degree to which demand for a product or service shifts following a variation in consumer income.

Housing

The provision of accommodation, typically through buildings or structures where individuals or families live.

Income Increase

A rise in the amount of money earned by an individual or collected by an organization, often measured on a monthly or yearly basis.

Cross-price Elasticity

A measure of how the quantity demanded of one good responds to a change in price of another good, indicating the degree of substitutability or complementarity between the two goods.