The _____ Clause in a Contract Describes How an Issue

question 61

Multiple Choice

The _____ clause in a contract describes how an issue will be addressed if a portion of the agreement is void or unenforceable and which court of law will resolve the difference.

• A)force majeure
• B)severability
• C)notices
• D)intellectual property
• E)supply and delivery

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Definitions:

Money Flows

The movement of money between different sectors of the economy, including households, businesses, and governments, influencing economic activity.

Central Planning

An economic system where production, investment, prices, and incomes are determined centrally by a government.

Coordination Problem

A situation in economics where parties struggle to choose their actions optimally due to a lack of information about the other parties' plans or decisions.

Invisible Hand

A term coined by economist Adam Smith to describe the unintended social benefits resulting from individual actions when they pursue their own interests in a free market.