________ Is the Absence of Knowledge of the Outcome of an Event

question 113

Multiple Choice

________ is the absence of knowledge of the outcome of an event before it happens.

• A)Return
• B)Diversification
• C)Uncertainty
• D)Certainty

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Definitions:

Frustration Of Purpose

A defense in contract law that may excuse parties from their obligations if an unforeseen event undermines the contract's original purpose.

Condition Precedent

A condition or event that must occur before a contract or a specific provision within a contract becomes effective or enforceable.

Illusory Promise

A statement or promise that is misleading or lacks the necessary intent to be legally enforceable.

Statutes Of Limitations

Laws that set the maximum time after an event within which legal proceedings may be initiated.