Which of the Following Statements Is TRUE

question 2

Multiple Choice

Which of the following statements is TRUE?

• A) Punitive damages are intended to compensate the plaintiff for losses that it unexpectedly suffered as a result of the defendant's breach of contract.
• B) Canadian judges award punitive damages more often than American judges.
• C) An account of profits normally is not available even if the defendant earned a large profit as a result of committing a breach of contract against he plaintiff.
• D) Nominal damages are usually worth more than punitive damages.
• E) If a court awards nominal damages, it will always award costs against the party that breached the contract.

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Definitions:

Good

A material item or service that satisfies a human want or need.

Price

The fiscal amount deemed necessary, expected, or expended in purchasing something.

Rationing Device

A method or system used to allocate scarce goods, services, or resources among competing demands.

Equilibrium

A state in a market where supply equals demand, and there is no tendency for change in the price or quantity.