Tom Breached a Contract He Had with Jim

question 54

Multiple Choice

Tom breached a contract he had with Jim.In addition to other remedies available, Jim may be able to recover commercially reasonable expenses incurred as a result of the breach.These expenses are:

• A)incidental damages.
• B)punitive damages.
• C)liquidated damages.
• D)extraordinary damages.

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Definitions:

Earn Income

The process of receiving payment through work, investments, or business operations.

Unit Variable

A measurement that reflects how variable costs change per unit of production or activity level.

Unit Fixed

This specifies a cost or charge that remains constant per unit regardless of changes in the level of activity or volume of production.

Costs

Costs refer to the expenditures incurred by a business in the process of generating revenues.