Force Majeure Clauses in International Business Contracts Commonly Set Forth

question 6

True/False

Force majeure clauses in international business contracts commonly set forth the major clauses of the contracts.

---

Definitions:

Operating Activities

Activities that relate directly to the business's primary operations, such as sales, provision of services, production, and associated expenses.

Statement of Cash Flows

A financial report that provides a summary of a company's cash inflows and outflows over a certain period, showing how it raises and spends cash.

Statement of Cash Flows

A financial report detailing modifications in balance sheet accounts and income's impact on cash and equivalents, segmented into operating, investing, and financing activities.

Loss

A decrease in net income that occurs when expenses exceed revenues, investments diminish in value, or assets are lost or damaged.