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In order for a supervening event to excuse performance, the following conditions must be met: (1) the event must have occurred through no fault of either party; (2) nonoccurrence of the event was a basic assumption of the parties at the time of contracting (U.C.C. § 2-615 and Restat 2d of Contracts, § 261 (2nd 1981)); (3) the risk of ...
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