Sally Has Just Purchased a Home and Wants to Have

question 63

Multiple Choice

Sally has just purchased a home and wants to have an in ground pool installed.She calls,Cool Pools,the company that put in her neighbor's pools.When they come out they do some soil tests that are standard for the industry and get the same results that they got when the other pools were put in so they give her a price quote of $16,000.When they begin excavating,they discover solid rock four feel below ground level.The neighbors had no such rock.Cool Pools stops work and informs Sally that due to the rock they will have to use explosives to remove the rock and the cost of the pool will now be $32,000.

• A) Sally is under contract and will have to pay the new price.
• B) Sally can have the contract discharged based on impracticability.
• C) Sally can have the contract discharged based on impossibility.
• D) Sally can have the contract discharged based on frustration of purpose

Appreciate the implications of using exception handling for program reliability.

Understand the multifunctional roles of administrative agencies, including their judicial capacities.

Comprehend the scope and limitations of legislative rules and the enabling statutes.

Recognize the importance of procedural fairness in rulemaking and adjudication by agencies.

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Definitions:

Economic Choice

Economic choice involves making decisions on the allocation of scarce resources among competing needs or desires to maximize benefits and utility.

Competitive Behavior

Actions taken by companies aimed at gaining an advantage over their rivals in the market, often through price adjustments, product innovations, and marketing strategies.

Marginal Cost

The added cost of producing one additional unit of a product or service.