Question

Commercial impracticability arises only when the parties--at the time the contract was made--had reason to foresee a certain
0 0
Add a comment Improve this question Transcribed image text
Answer #1

The answer is FALSE.

Explanation: Commercial impracticability is triggered when something happens that makes performance of a contractual duty excessively burdensome, unbearably difficult, or extremely expensive, for the party committed to such performance.

The three facts that are part of test of commercial impracticability are:

  • The parties could not have reasonably foreseen that the problem could occur.
  • Something must have happened which as assumed not to have occurred in making the original contract.
  • The occurrence must specifically make certain performance under the contract exceptionally difficult or expensive.
Add a comment
Know the answer?
Add Answer to:
Commercial impracticability arises only when the parties--at the time the contract was made--had reason to foresee...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Q1: The UCC’s provisions relating to passage of title do not apply to leases of goods....

    Q1: The UCC’s provisions relating to passage of title do not apply to leases of goods. Group of answer choices a. True b. False Q2: Commercial impracticability arises only when the parties—at the time the contract was made—had reason to foresee a certain event. Group of answer choices a. True b. False

  • 5. (True/False). Under the UCC, if certain contract terms, such as price or time of delivery...

    5. (True/False). Under the UCC, if certain contract terms, such as price or time of delivery are left open, it is not acceptable to fill in these terms. 6. (True/False). The "mirror image rule" is a UCC principle which provides that the acceptance of an offer must be on identical terms to the offer. 7. This rule is a legal rule/concept that provides that the written sales contract is the final expression of the parties' agreement and neither party can...

  • 1. What was the court's decision in Lucy v. Zehmer? a. The claim made by Lucy...

    1. What was the court's decision in Lucy v. Zehmer? a. The claim made by Lucy was inconsistent with his attempt to testify in great detail as to what was said and what was done. b. The writing signed by the defendants did not constitute a binding contract of sale between the parties c. At no time prior to the execution of the contract had Zehmer indicated to Lucy by word or act that he was not in earnest about...

  • Explain when a contract has to be in writing. 2. Duress B. A beneficiary that cannot...

    Explain when a contract has to be in writing. 2. Duress B. A beneficiary that cannot enforce the contract between original parties. _3. Statute of frauds C. Knowledge 4. Parol Evidence Rule D. A transfer of rights to another. 5. Condition subsequent E. Being deceived as to the nature of the contract being signed. 6. Condition precedent dent F. A substituted contract involving two parties compromising their dispute. 7. Novation G. An equitable remedy used to enforce contract. H. A...

  • Sellers are only required to adjust the transaction price to reflect the time value of money...

    Sellers are only required to adjust the transaction price to reflect the time value of money when the contract has a significant financing component True False

  • Which of the following is least likely to be a reason why a long-term construction contract...

    Which of the following is least likely to be a reason why a long-term construction contract would qualify for revenue recognition over time? Multiple Choice The customer controls the asset as it is created. The seller is creating an asset that has no alternative use to the seller, and the seller has the legal right to receive payment for progress to date. The seller is constructing an addition to property that is owned by the customer. The customer consumes the...

  • QUESTION 25 Normal Backwardation occurs when the futures contract price IFO) is less than the spot...

    QUESTION 25 Normal Backwardation occurs when the futures contract price IFO) is less than the spot market price (50) and thereby leading to the futures price moving upward over time to converge with the spot price at settlement. True False QUESTION 26 A Seasoned offering (Secondary Offering) is where a primary securities offering is made by a company which already has publicy traded securities outstanding in the securities markets. True False

  • The premium paid on an option contract (either a put or a call) represents the compensation...

    The premium paid on an option contract (either a put or a call) represents the compensation the buyer of the option receives from the seller (writer) of the option for the ability to use the option if it becomes profitable. If the buyer of the option does not use the option before expiration, this premium must be returned back to the seller (writer) at the time the option expires. True False 2 points    QUESTION 3 On the day of...

  • 64. GATT had only 23 countries when it was founded in 1947; now the WTO has...

    64. GATT had only 23 countries when it was founded in 1947; now the WTO has well more than 125 countries. a. True b. False 65. The WTO (world Trade Organization ) was replaced by GATT (General Agreement on Tariffs and Trade) a. True b. False

  • I have the first 4 answered Im struggling on the last 6 2. True-False Questions: Each...

    I have the first 4 answered Im struggling on the last 6 2. True-False Questions: Each question is worth one (1) point. (The Uniform Commercial Code is applicable to this question.) If the subject of a sale is goods, Article 2 of the UCC applies. The UCC requires that an agreement modifying a contract must be supported by new consideration to be binding. Under the UCC's Statute of Frauds, a writing must include all material terms except quantity An unconscionable...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT