Which of the Following Statements Refers to Nominal Damages

question 37

Multiple Choice

Which of the following statements refers to nominal damages?

• A) They are damages in excess of compensatory damages that the court awards for the sole purpose of deterring the defendant and others from doing the same act again.
• B) They are damages awarded to the party that is injured by a breach of contract but cannot establish actual damages.
• C) They are damages for nonperformance that are stipulated in a clause in the contract.
• D) They are damages designed to place the non-breaching party in the position that party would have enjoyed had the terms of the contract been performed.

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Definitions:

Interest Income

Earnings received from deposit accounts or investments such as bonds, loans where one lends money to someone else in exchange for a return of interest.

Currency Notes

Paper money issued by a country's central bank or government as legal tender for transactions.

Money Demand Curve

A graph showing the relationship between the quantity of money demanded and the interest rate.

Nominal Interest Rate

The interest rate before adjustments for inflation, representing the face value of money borrowed or saved.