A Seller Can Terminate a Contract on the Basis of Commercial

question 46

True/False

A seller can terminate a contract on the basis of commercial impractica?bility if in?creases in the seller's costs threaten to undercut its profits.

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Definitions:

Consideration

Something that has value in the eyes of the law, and which a promisor receives in return for a promise.

Fixed Price

A fixed price refers to a pricing strategy where a specific cost is set for a product or service, not subject to change based on fluctuations in market demand or supply.

Provincial Jurisdiction

The legal authority granted to provincial governments to legislate and govern in certain areas that are not within federal jurisdiction.

Discretionary Income

The amount of an individual's income that is left for spending, investing, or saving after taxes and personal necessities have been paid.