Frustration Arising When One of the Parties to a Contract

question 157

Short Answer

Frustration arising when one of the parties to a contract causes or fails to prevent a frustrating event is referred to as ________.
ESSAY. Write your answer in the space provided or on a separate sheet of paper.

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Definitions:

Capital Goods

Goods that are used in producing other goods and services, rather than being bought by consumers. This includes machinery, buildings, and equipment.

Consumer Goods

Items produced for personal use by households.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two goods, given a set of inputs consisting of resources and other factors.

Economic Growth

A rise in the output of goods and services in the economy, measured from one time period to another.