OnTrack Rehabilitation Center signs an agreement with Platinum Bank to borrow $40,000 at 20 percent interest.Later,the state legislature passes a law lowering the maximum permissible rate of interest to 15 percent.OnTrack's best argument for avoiding payment to Platinum Bank is that

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The best argument for OnTrack Rehabilitation Center to avoid payment to Platinum Bank is that the state legislature has passed a law lowering the maximum permissible rate of interest to 15 percent. This has rendered performance of the contract illegal. Therefore, OnTrack will not be required to pay the interest rate of 20 percent, as it would be against the law.

OnTrack Rehabilitation Center Signs an Agreement with Platinum Bank to Borrow