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Joe agreed to buy a car from Sam at Sam's Used Car Lot for $10,000 with a $100 deposit. The next day, before he took delivery, he changed his mind and refused to go through with the deal. Sam kept the deposit and sued Joe for breach of contract. Indicate what kind of remedy he would be entitled to.
Futures Price
The agreed-upon price for a financial instrument or commodity to be delivered and paid for at a future date.
Spot Price
The current market price at which an asset can be bought or sold for immediate delivery.
Profit
The financial gain achieved when the amount earned from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.
Futures Contracts
Standardized legal agreements to buy or sell something at a predetermined future date and price, often used for hedging or speculation purposes.
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