Jack's supplier fails to deliver the products Jack has ordered at the required time. Jack is expected to do what it can to reduce his losses. This is called mitigation of losses.

Question

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Mitigation of losses refers to the efforts made by a party to reduce the negative impact of a particular event or situation. In this case, Jack is trying to minimize the losses resulting from the late delivery by his supplier.

Jack's Supplier Fails to Deliver the Products Jack Has Ordered