Examlex
You put money in an account and earn a real interest rate of 10 percent.Inflation is 3 percent,and your marginal tax rate is 40 percent.What is your after-tax real interest rate?
Frustration of Purpose
A legal defense allowing for the termination of a contract when an unexpected event undermines the contract's core purpose.
General Contract Law
The body of law that governs the formation, execution, and enforcement of agreements between parties.
Right of Inspection
The legal right to examine and review a company's books, records, and documents, typically granted to directors, officers, and shareholders.
Nonconforming Goods
Goods that fail to meet the specifications or standards outlined in a contract.
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