Examlex
The change in total output resulting from a one-unit increase in the quantity of an input used,holding the quantities of all other inputs constant,is:
Lost Profits
Potential earnings or revenues that a business or individual did not realize due to an interruption, breach of contract, or other adverse events.
Breach of Contract
The violation of any of the agreed-upon terms and conditions of a binding contract without a legitimate legal excuse.
Consequential Damages
In a contract, foreseeable damages that result from special facts and circumstances arising outside the contract itself. The damages must be within the contemplation of the parties at the time the breach occurs. Also called special damages.
Nominal Damages
Monetary damages awarded to a plaintiff in a very small amount, typically $1 to $5, to signify that the plaintiff has been wronged by the defendant even though the plaintiff suffered no compensable harm.
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