Contracts Sometimes Contain a Provision Reciting That Disputes Between the Parties

question 80

Multiple Choice

Contracts sometimes contain a provision reciting that disputes between the parties regarding matters connected with the contract must be litigated in the courts of a particular state.What is such a provision called?

• A)Choice of law clause
• B)Forum selection clause
• C)Substantive clause
• D)Minimum contacts clause

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Definitions:

Retained Earnings

The portion of a company's profits not distributed to shareholders as dividends and retained for reinvestment or debt repayment.

Pro Forma Net Income

A projected net income over a specific period, calculated under hypothetical assumptions or adjustments.

Profit Margin

A financial metric that measures the percentage of revenue that exceeds the costs of goods sold, indicating the profitability of a company.

Sales Decrease

A reduction in the amount of goods or services sold by a business within a specific time period.