Solved

Diners Restaurant Signs an Agreement with Eagle Bank to Borrow

Question 65

Multiple Choice

Diners Restaurant signs an agreement with Eagle Bank to borrow $10,000 at 20 percent interest. Later, the state legislature passes a law lowering the maximum permissible rate of interest from 15 per?cent. Diners' best argument for avoiding payment to Eagle is that


A) performance of the contract is commercially impossible.
B) the agreement violates the mirror image rule.
C) the law has rendered performance of the contract illegal.
D) the specific subject matter of the contract has been destroyed.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents