Contractual Term That Allows A Contract To Be Void In The Event Of An Extreme And Unpredictable Change In Circumstances That Would Make It Impossible For One Party To Fulfill Its Obligations. Appears In Paul Erdman's The Panic Of '89; Drops In Commodity Prices Allow Brazil - Mexico - And Venezuela To Get Out Of Repaying Their Debt To The United States. Without The Help Of Paul Mayer - This Clause Would Have Allowed The U.S. To Sink Into A Financial Armageddon.

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1. Contractual Term That Allows A Contract To Be Void In The Event Of An Extreme And Unpredictable Change In Circumstances That Would Make It Impossible For One Party To Fulfill Its Obligations. Appears In Paul Erdman's The Panic Of '89; Drops In Commodity Prices Allow Brazil - Mexico - And Venezuela To Get Out Of Repaying Their Debt To The United States. Without The Help Of Paul Mayer - This Clause Would Have Allowed The U.S. To Sink Into A Financial Armageddon.