A Choice-Of-Law Clause Is a Provision in a Contract That

question 65

True/False

A choice-of-law clause is a provision in a contract that excuses a party from liability for nonperformance due to "acts of God."​

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Definitions:

No Further Deposits

A situation or condition where no additional deposits or contributions are allowed.

Future Value

The value of an asset or cash at a specified date in the future that is equivalent in value to a specified sum today, considering interest or capital gains.

Purchasing Power

The amount of goods or services that one unit of money can buy, reflecting the economic value of currency.

Interest Rate

The fee that a borrower must pay to a lender for borrowing assets, typically represented as a percentage of the principal amount.