What is limitations of liability What is force manure What is indemnity What is procurement What is sourcing What is termination at cause What is termination at convinenece

Question

Accepted Answer

Limitations of liability, force majeure, indemnity, procurement, sourcing, termination at cause and convenience are legal terms.

Limitations of liability refers to the maximum amount of damages that a party can be held liable for in case of breach of contract.
Force majeure refers to unforeseeable circumstances that prevent a party from fulfilling their contractual obligations.
Indemnity is a legal agreement where one party agrees to compensate the other party for any losses or damages incurred.
Procurement is the process of acquiring goods or services from external sources.
Sourcing is the process of identifying and selecting suppliers for goods or services.
Termination at cause refers to the termination of a contract due to a breach by one of the parties.
Termination at convenience refers to the termination of a contract by one of the parties without any breach by the other party.
Examples of limitations of liability include clauses in insurance policies and contracts.
Examples of force majeure events include natural disasters, war, and strikes.
Examples of indemnity agreements include those between a landlord and tenant, or between a contractor and subcontractor.
Examples of procurement include purchasing raw materials for manufacturing, or hiring a consultant for a project.
Examples of sourcing include finding a supplier for office equipment, or selecting a vendor for IT services.
Examples of termination at cause include a supplier failing to deliver goods on time, or a contractor not meeting project specifications.
Examples of termination at convenience include a company deciding to end a contract with a supplier due to a change in business strategy, or a contractor deciding to end a project due to unforeseen circumstances.

Accepted Answer

Contractual provision to redused ecxculded types of amount liability one party and my recovery from another party relating.

What is limitations of liability What is force manure What is indemnity What is procurement What is sourcing What is termination at cause What is termination at convinenece

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