Write a Short Note on Indicators and Indexes Used in Forecasting

question 1

Essay

Write a short note on indicators and indexes used in forecasting.

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Definitions:

Novation

Novation is the legal process by which an existing contract is replaced with a new contract, involving the same or different parties, where the obligations of the original contract are extinguished and replaced by new obligations.

Exemption Clause

A contractual provision that seeks to limit or exclude one's liability in certain situations, often subject to legal scrutiny for fairness.

Fundamental Breach

A serious violation of a contract that allows the aggrieved party to terminate the agreement and sue for damages.

Tendered Payment

The act of offering money or payment to fulfill a debt or obligation, especially within the context of fulfilling contractual agreements.