Tariffs Can Be Thought of as the "Three Rs" of Global

question 75

True/False

Tariffs can be thought of as the "three Rs" of global business: rules,rigor,and regulations of individual countries.

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Definitions:

Offer of Performance

A gesture by a party involved in a contract to fulfill their part of the agreement, often used as evidence of willingness to comply with the contractual terms.

Objective Impossibility

This term describes a situation where the fulfillment of a contract's obligations cannot be carried out by anyone due to external circumstances, such as the destruction of something necessary for performance.

Subjective Impossibility

A situation where completing a contract's obligation is impossible due to circumstances personal to the obligated party.

Performance

in the context of contracts, refers to the execution of duties or the fulfillment of obligations specified in the contract.