SANCTIONING POWER Refers to the Capacity to Influence Gained Through

question 33

Multiple Choice

SANCTIONING POWER refers to the capacity to influence gained through

• A) Having lots of money.
• B) Relationships with others.
• C) Having a formal position within an organization.
• D) Being able to create havoc or difficulties for other people.
• E) Being able to reward or punish.

---

Definitions:

Novation

The creation of a new contract through the substitution of a third party for one of the original parties to a contract by the consent of all.

Third Party

An entity not directly involved in a transaction or legal agreement but who may be affected by it.

Force Majeure

A contractual clause that frees both parties from liability or obligation when an extraordinary event or circumstance beyond their control occurs.

Contract Termination

The legally sanctioned end of a contract's validity, which can occur due to fulfillment, mutual agreement, or breach by one of the parties.