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:

Economic Growth

An increase in the amount of goods and services produced per head of the population over a period of time.

Modernization Theory

A theory that posits that societies progress through stages of economic development, from traditional to modern industrial economies, with corresponding social and cultural changes.

Core Capitalist Countries

Denotes nations that are at the forefront of the global economic system, characterized by strong, developed economies and significant influence over world trade and financial markets.