M agreed to buy G's house for $200,000. The closing was to be held on April 5. G did not have all items removed from the home until April 9. M had to spend $500 on hotel expenses because of G's breach
The contract had listed that hotel expenses in the event this occurred would be limited to $400. This agreement of capping the hotel expenses at $400 is an example of:
A) consequential damages.
B) liquidated damages.
C) compensatory damages.
D) mitigated damages.
B
You might also like to view...
A business plan that provides information to potential licensees is referred to as a(n) ________ plan.
A. screening B. concept C. invention D. operational
Taylor Tobacco Company is concerned that the company may be held liable in a court of law and ordered to pay a large damage award to a smoker harmed by the company's cigarettes. The characteristics of the judicial system that increase the frequency and severity of loss are known as
A) moral hazard. B) particular risk. C) speculative risk. D) legal hazard.
A ____________________ merger joins firms selling goods in unrelated markets.
Fill in the blank(s) with the appropriate word(s).
If the subject matter of the offer is destroyed:
a. the court takes over the contract b. the contract is still binding c. the offeror must replace the subject matter d. the offeree must replace the subject matter e. none of the other choices are correct