Which of the Following Is a Distinguishing Characteristic of the Doctrine
Which of the following is a distinguishing characteristic of the doctrine of frustration?
A) It relieves parties of contractual obligations in very limited circumstances.
B) As a contractual term, it is used to signify that a contract cannot be varied.
C) As a guiding principle, it is used for interpreting the terms of a contract.
D) It relieves parties in a variety of circumstances from contractual obligations.
Why should one NOT rely on the common law doctrine of frustration in contractual negotiations?
A) The doctrine of frustration holds that the terms of a contract are settled at the time of acceptance.
B) The doctrine of frustration is a reliable avenue of escape that operates in limited circumstances.
C) The doctrine of frustration holds a party from being able to perform its contractual obligations.
D) The doctrine of frustration is an unreliable avenue of escape that operates in narrow circumstances.
What would a negotiator most likely caution against with respect to the notion of building flexibility into contractual agreements?
A) the risk of having no contract at all if the resulting document is too unfixed
B) the risk that the parties will be allowed to terminate the contract altogether
C) the risk of having the parol evidence applied regarding evidence of intent
D) the risk that voluntarily altering the contract will make it unenforceable
Marty has made his acceptance of an offer to purchase his house subject to his lawyer's approval. Why did Marty's lawyer advise him that it was essential for him to do so?
A) to ensure contractual obligations Marty incurs are limited to certain circumstances
B) to ensure that any price-variation clause will be detected and eliminated
C) to ensure that Marty will receive a fair price without losing the sale altogether
D) to avoid having to negotiate a higher price to compensate for market changes