When an Outside, Unforeseen Event Interferes with the Performance of a Contract

question 84

True/False

When an outside, unforeseen event interferes with the performance of a contract, and there is some other way to fulfill the contract, performance is required.

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Definitions:

Porter's Diamond Model

A framework for analyzing the competitive advantage nations or regions possess due to four key factors: factor conditions, demand conditions, related and supporting industries, and firm strategy, structure, and rivalry.

Competitive Potential

Refers to the capacity of a company or industry to compete effectively in the market and expand its market share.

Industries

Broad categories that encompass various companies and organizations involved in the production of goods and services in specific areas of the economy.

Infant Industry Theory

A theory which states that certain emerging industries need to be protected and nurtured for a period of time or they will be unable to compete against established foreign firms.