Question

In the event there is a last minute cancellation of the Production where said Production cannot run as agreed upon due to any of the following reasons: fire, blackout, act of public enemy, war, riot, labor dispute, or technical failures; Company will have the right to terminate their obligations of this agreement and retain any prepaid deposits.

What is the name of this clause (better known as)?
A) Cancellation Clause
B) Termination Clause
C) Force Majeure Clause
D) Deposit Retention Clause

Answer 1

The correct answer is C.) The clause you're referring to is better known as the Force Majeure Clause. It allows a party to be excused from performing their obligations in certain unforeseen events beyond their control.

Step-by-step explanation:

The clause you're referring to is better known as the Force Majeure Clause. This clause allows a party to a contract to be excused from performing their obligations if certain unforeseen events occur that are beyond their control, such as fire, blackout, act of public enemy, war, riot, labor dispute, or technical failures. In this case, if any of these events prevent the production from running as agreed upon, the Company has the right to terminate the agreement and retain any prepaid deposits.

Answer 2

The name of the clause, better known as, is the Force Majeure Clause. This clause allows the Company to terminate their obligations and retain any prepaid deposits in the event of unforeseen circumstances. option c is answer

Step-by-step explanation:

The name of the clause, better known as, is the Force Majeure Clause.

The Force Majeure Clause is typically included in contracts to protect both parties in the event that unforeseen circumstances arise which make it impossible for one or both parties to fulfill their obligations.

In this case, if any of the listed events such as fire, blackout, war, or technical failures occur and prevent the Production from running as agreed upon, the Company has the right to terminate their obligations and retain any prepaid deposits. . option c is answer