Examlex
The profitability index measures the present value of benefits received for each dollar invested.
Illusory Contract
An agreement that lacks a binding obligation from one or more parties, typically because terms are too vague or one party has the option not to perform their promise.
Subjective Standard
A legal standard based on an individual's personal feelings, tastes, or opinions, often used in determining the reasonableness of an action in legal cases.
Objective Impossibility
A situation where the performance of a contractual duty cannot be done by anyone because it is physically or legally impossible.
Subjective Impossibility
A situation in which it is impossible for an individual to perform a contractual duty due to personal inability or circumstances, despite the task being objectively possible.
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