Where a Contract Is Discharged or Modified by a Unilateral

question 158

Essay

Where a contract is discharged or modified by a unilateral discharge, explain the problem that arises and its solution.

---

Definitions:

Expected Rate of Return

This refers to the anticipated gain or loss of an investment, expressed as a percentage of the investment's initial cost.

Probability

A measure of the likelihood that an event will occur, quantified as a number between 0 and 1.

Payoff Matrix

A Payoff Matrix is a table that shows the possible outcomes of different strategies in a strategic situation or game.

Probabilities of Occurrence

The likelihood or chance that a specific event will happen within a given set of circumstances.