Lost Profits Can Be Recovered as Consequential Damages Only If

question 55

True/False

Lost profits can be recovered as consequential damages only if they are related to an existing established business.

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Definitions:

Monte Carlo Simulation

A computational algorithm that relies on repeated random sampling to obtain numerical results, often used to model probabilities of different outcomes in a complex system.

Random Numbers

A sequence of numbers or symbols that cannot be reasonably predicted better than by a random chance, often used in simulations and statistical sampling.

Standard Probability Distributions

Specific mathematical functions that provide the probabilities of occurrence of different possible outcomes for a particular phenomenon.