_____ Is a Long-Term Business Arrangement in Which a Company

question 75

Short Answer

_____ is a long-term business arrangement in which a company contracts for services with an outside organization that has expertise in providing a specific function.

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Definitions:

Rescinds Contract

The act of officially cancelling or terminating a contract by mutual agreement of the parties involved or due to some legal reason.

Other Party

In legal or contractual language, this term refers to an entity or person aside from the one being directly addressed or previously mentioned.

Duress

A scenario in which an individual engages in an action due to being subjected to force, intimidation, or other forms of coercion.

Coercion

The act of compelling a party to act in an involuntary manner by use of threats, force, or pressure.