Which of the Following Situations Best Demonstrates the Concept of Self-Induced

question 51

Multiple Choice

Which of the following situations best demonstrates the concept of self-induced impossibility?

• A)Seven years ago, Alpha became contractually indebted to pay Beta $10 000.Since Beta has not yet taken any action against Alpha, Beta probably can no longer collect upon the debt.
• B)Alpha agreed to transfer a particular vehicle to Beta.The transfer was to occur on June 1.On May 15, however, Alpha sold the same car to Gamma, who was entirely unaware of the contract between Alpha and Beta.
• C)On May 15, Alpha agreed to transfer a certain painting to Beta.The transfer was to occur on June 1.In fact, although neither party realized it when they created their agreement that painting had been destroyed by fire on May 1.
• D)On May 1, Alpha agreed to transfer a motorcycle to Beta.The transfer was to occur on June 1.On May 15, Alpha informed Beta that it intended to break the contract and keep the motorcycle for itself.
• E)Alpha was contractually obliged to pay $1000 to Beta, at Beta's place of business, on June 1.On June 1, Alpha went to Beta's place of business and tried to discharge the debt by giving ten $100 bills to Beta.Beta refused to take the money.Because Beta refused a proper tender, Alpha no longer is required to actively repeat its tender.

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Definitions:

Mutual Fund

An investment company that pools individual investor dollars and invests them in large numbers of well-diversified securities.