ABC Electrical Inc

question 69

Multiple Choice

ABC Electrical Inc.has a contract with a building contractor that provides that in the event of breach,ABC will be entitled to damages of $10 000.Which of the following best describes this type of contract term?

• A) a liquidated damages clause
• B) a condition precedent
• C) an exemption clause
• D) a limitation of liability clause

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Definitions:

Conglomerate Era

A period in media history starting in the late 20th century where large corporations acquired many media companies, affecting diversity in film and television production.

Independent

A term used to describe films produced outside of the major film studio system, often characterized by lower budgets and more personal, innovative content.

Blockbuster

Big-budget movie spectacles that have come to dominate studio release slates since 1980. Blockbusters are defined by what they look and sound like and by the endeavor itself—by the amount of cash poured into each production and into advertising and promotion, and then by the astonishing revenues earned at the box office.

Corporate Buyouts

Transactions where a company is purchased outright, typically resulting in significant organizational and operational changes.