Question: Question 3: (5 points) Continuous supply: A supply is generally considered as continuous when it is provided on a continuous or recurrent basis for
Question 3: (5 points) Continuous supply: A supply is generally considered as continuous when it is provided on a continuous or recurrent basis for a period of time and under terms that provide for the consideration to be determined and/or payable periodically or from time to time. Continuous supplies are typically supplies which cannot be considered as finished or completed until such time that either the contract ends (if the contract is for a specific duration) or one of the parties decides to terminate it (if the contract is open ended). Give 3 Examples of continuous supplies:
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