What Is the Legal Term Given to a Provision in a Contract

question 5

Multiple Choice

What is the legal term given to a provision in a contract whereby the parties agree in advance the amount to be paid in the event of a contract breach?

• A) an applied term
• B) a liquidated damages clause
• C) a punitive clause
• D) an exemption clause

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Definitions:

Regression Line

A line through a scatter plot of data points that best expresses the relationship between those points.

Variables

Elements, features, or factors that are likely to vary or change and can be measured, controlled, or manipulated in research.

Negative Linear Manner

A relationship between two variables where an increase in one variable corresponds with a decrease in the other, in a linear fashion.

Scatterplot

A type of plot or graphical representation showing the relationship between two variables by displaying data points on a two-dimensional axis.