Nora Contracts with Odell to Sell Land That, Unknown to Either

question 2

Multiple Choice

Nora contracts with Odell to sell land that, unknown to either party, has groundwater contaminated from adjacent land that was occupied several decades earlier by a paper pulp processing plant. When this is discovered, Nora asserts the doctrine of commercial impracticability. This doctrine applies only when, with respect to an event that renders performance impossible, at the time the contract was formed the parties​

• A) ​could not have reasonably foreseen the supervening event.
• B) ​could have reasonably foreseen the supervening event.
• C) ​should have foreseen the supervening event, reasonable or not.
• D) ​should not have foreseen any supervening events.

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Definitions:

Total Return

The overall financial gain or loss from an investment, taking into account both capital appreciation and dividends or interest.

Capital Gain

The profit from selling a capital asset for more than its purchase price.

Dividends

Payments made by a corporation to its shareholders from the earnings of the company, usually in the form of cash or stocks.