Which of the Following Events Excuses a Promisor from Performing

question 38

Multiple Choice

Which of the following events excuses a promisor from performing his or her contractual obligations?

• A) a riot
• B) a shortage of materials necessary for production of goods and/or provision of services called for under the contract
• C) an unanticipated increase in the cost of performance
• D) destruction of the subject matter through no fault of either party

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Definitions:

Elderly

Individuals, typically of an advanced age, often defined as those who are 65 years or older, representing a specific demographic group within society.

Gini Coefficient

A measure of income inequality within a population, ranging from 0 (perfect equality) to 1 (perfect inequality).

Lorenz Curve

A graphical representation used to show the distribution of income or wealth within a society, depicting the proportion of total income earned by various segments of the population.

Income Inequality

The unequal distribution of household or individual income across the various participants in an economy.