Ilsa and Janis Agree to a Contract

question 15

Multiple Choice

Ilsa and Janis agree to a contract.Later, Ilsa alleges that her performance is impossible or at best impracticable because of circumstances unforeseen at the time the contract was formed.Frieda files a suit, claiming breach.In the United States, if the court agrees with Eva, the most likely remedy is

• A)damages.
• B)reformation.
• C)rescission.
• D)specific performance.

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Definitions:

American Opportunity Tax

An educational credit for sanctioned expenses related to an eligible student’s initial four years at a higher education institution.

Lifetime Learning Credits

A tax credit available to individuals who pay qualified tuition and related expenses, aimed to encourage lifelong learning and skill development.

Earned Income Credit

A refundable tax credit for low- to moderate-income working individuals and families.

Lifetime Learning Credit

A tax credit available for qualifying tuition and related expenses paid for higher education courses, aimed at promoting lifelong learning.