A Force Majeure Clause Serves as a General Excuse for Nonperformance

question 88

True/False

A force majeure clause serves as a general excuse for nonperformance of a sales contract in all situations.

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Definitions:

Causal Relationship

A connection between two variables where a change in one directly causes a change in the other.

Percentage of Sales

The percentage of sales method relates various financial figures as a percentage of a company's total sales, used for analysis and forecasting.

Forecasting

Forecasting involves making predictions about future events or trends based on historical data and analysis, often used in financial planning, supply chain management, and strategic planning.

Budgeting

The process of creating a plan to spend your money, enabling the tracking of income and expenses over a set period of time.