Renew Turf, Inc, enters into a contract with Sports Park to provide surface material for Sports Park's baseball fields by October 1 for a series to begin October 5. The contract specifies an amount to be paid if the contract is breached. This is a liquidated damages clause if the amount is
A) meant to pay for additional liquid sealant in the event of damage
B) a reasonable estimate of the loss on a breach.
C) designed to penalize the breaching party.
D) intended to quickly provide cash to the nonbreaching party.
B
You might also like to view...
Generally, a minor must place the adult in status quo in order to disaffirm a contract
Indicate whether the statement is true or false
If the owner of lost or mislaid property ceases trying to locate it, the property can become
abandoned. Indicate whether the statement is true or false
?Marketing managers can classify a firm's products into four basic types: stars, cash cows, dogs, and question marks.
Answer the following statement true (T) or false (F)
The income statement of a manufacturing company separates the product costs from the period costs
Indicate whether the statement is true or false