Under the Code, what rights do the parties have to affect the possible remedies available in the case of breach?
Within specified limits, the Code permits the parties to a sales contract to modify, exclude, or limit by agreement the remedies or damages that will be available for breach of contract. Two basic types of contractual provisions affect remedies: 1. liquidation or limitation of damages; and 2. modification or limitation of remedy. The parties may provide for liquidated damages in their contract by specifying the amount of damages that either party may recover in the event of a breach by the other. The amount must be reasonable in light of anticipated or actual loss resulting from a breach, the difficulties of proof of loss, and the inconvenience or lack of feasibility of otherwise obtaining a reasonable remedy. The contract may expressly limit or exclude consequential damages unless such limitation or exclusion would be unconscionable. Limitation of consequential damages for personal injuries resulting from breach of warranty in the sale of consumer goods is prima facie unconscionable, whereas limitation of such damages where the loss is commercial is not.
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The gross profit method estimates the ending inventory and cost of goods sold by using the firm's normal gross profit as a percentage of net sales
a. True b. False Indicate whether the statement is true or false
National governments in South America as well as local governments in Asia and Europe have adopted policies of using only free _____ software whenever it is available.
Fill in the blank(s) with the appropriate word(s).
The mean of a sample is the middle value when the data are arranged in ascending or descending rank order
Indicate whether the statement is true or false
Which of the following statements is most accurate?
A. Unionization almost always results in improvements to workplace productivity B. Unionization almost never results in improvements to workplace productivity C. Unionization generally has no effect on workplace productivity D. The effects of unionization on productivity are mixed; sometimes it results in an increase and sometimes it results in a decrease