Question: This is a business law question Question 8 Which one of the following is the effect of frustration of contracts under common law? Group of

This is a business law question

Question 8

Which one of the following is the effect of frustration of contracts under common law?

Group of answer choices

a) The parties have to renegotiate the terms of the contract.

b) The innocent party is entitled to claim for damages.

c) The contract is discharged within a reasonable period from the date of frustration.

d) The contract is automatically discharged.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Burger Dome sells hamburgers, cheeseburgers, french fries, soft drinks, and milk shakes, as well as a limited number of specialty items and dessert selections. Although Burger Dome would like to...

Q:

This is a Business Law question Question 9 Which one of the following is an element of frustration? Group of answer choices a) Any supervening event. b)A third party must be at fault. c)The...

Q:

This is a business law question Question 7 Which one of the following contracts will bind a minor? Group of answer choices a) Contract beneficial to the welfare of the parents of the minor. b)...

Q:

I need help with part one! Basically the four learning objectives at the top of the first picture. Thank you for your help! This is a business law question but didnt have to option to select that!...

Q:

The Partnership Act 1890 section 24 sets out rights of partners (in default of their own agreement). Which one of the following is not included in section 24? Group of answer choices The right to...

Q:

Discuss how the respective organizations' relations with stakeholders could have potentially been affected by the events that took place at Enron and how the situation could have been dealt with...

Q:

Week 4 assignment Business law. In Chapter 8, we pointed out that promises and agree- ments, and the knowledge that some of those promises and agreements will be legally enforced, are essential to...

Q:

Study Guide Strategic Business Management By A. J. Cataldo About the Author A. J. Cataldo is currently a professor of accounting at West Chester University, in West Chester, Pennsylvania. He holds a...

Q:

For this assignment, a page case brief for the following case: STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY v. EDGE FAMILY CHIROPRACTIC Please follow the attached format ony for this brief: How to...

Q:

Which of the following is an effect of frustration of contract? Group of answer choices Monies not yet paid is recoverable under the Frustrated Contracts Act. Expenses, reasonably incurred for the...

Q:

Winston Dior (Winston) is the inventor of a unique and innovative 3D printing technology and self-serve system that allows retail customers to operate their own 3D printing. Customers can bring in a...

Q:

Why does slate possess a good rock cleavage and break into flat pieces? (See Figs. 6.1 and 6.2.)

Q:

Distinguish between expansive and contractible market selection procedures. If you were making a decision on such a procedure, which would you favor, and why?

Q:

Which of the following statements about the production budget is accurate? Desired number of units in ending inventory reduces the number of units that must be produced in a period. A higher selling...

Q:

Briefly discuss why you think financial reports for investors and managerial reports for managers may or may not differ in their treatment of opportunity costs.