Drew contracts to sell a residential duplex to Evan. The contract provides that if Drew does not close the deal by September 15, he must pay Evan one-half of the contract price. This provision is not enforceable because it is

A. a liquidated damages clause.
B. a mitigation clause.
C. a nominal damages clause.
D. a penalty clause.


Answer: D

Business

You might also like to view...

Which of the following factors forms the basis of assessing sponsorship activities through supply-side methods?

A) consumers' brand knowledge B) impact on sponsor's bottom line C) extent of media coverage D) brand exposure reported by consumers E) sales pattern of sponsored products

Business

The psychological environment of the communication often influences the writer's choice of report structure

Indicate whether the statement is true or false

Business

Senior executives focus on financial data when comparing the performance of their companies to that of competitors.

Answer the following statement true (T) or false (F)

Business

How many randomly selected securities must be added to a portfolio so that on average almost all of the risk that can be diversified away has been diversified away?

A) 1-3 B) 20 -30 C) 100-150 D) 450-550

Business