As Long as There Is an Overlap Between the Buyer's

question 39

True/False

As long as there is an overlap between the buyer's and seller's aspiration ranges,there exists a bargaining zone.

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Definitions:

Supervening Event

An event that occurs after the parties have entered into a contract and significantly changes the circumstances, possibly excusing performance.

Additional Labor

Extra workforce employed to meet increased demand or to complete a specific project or task.

Material Breach

A significant failure to perform under a contract which permits the other party to either demand performance or terminate the agreement.

Frustration of Purpose

A doctrine in contract law that can discharge the parties' obligations when a change in circumstances makes the contract impossible to perform as originally intended.