The Name of the Clause Put into International Sales Contracts

question 66

Multiple Choice

The name of the clause put into international sales contracts to limit the liability of the parties in the event of an intervening and disruptive force beyond a party's control makes performance more difficult than expected is:

• A) Good excuse clause.
• B) Out of control clause.
• C) Force Majeure clause.
• D) Excuse moi clause.

---

Definitions:

Retained Earnings Statement

A financial report detailing the variations in retained profits over a definite time frame.

Depreciation Expense

The allocation of the cost of tangible assets over their useful lives as an expense to reflect their usage and wear and tear.

Stock Dividend

Additional shares are issued to shareholders by a corporation as a payment, rather than giving out cash.

Par Value Common Stock

The nominal or face value assigned to common stock shares in the corporation's charter, not necessarily reflecting their market value.