​Which of the Following Statements Concerning Liquidated Damages Is NOT

question 17

Multiple Choice

​Which of the following statements concerning liquidated damages is NOT TRUE?

• A)​A liquidated damages clause will be enforced,if,when the contract was made,it was difficult to estimate actual damages.
• B)​The amount of liquidated damages must be a reasonable estimation of the actual harm resulting from a breach.
• C)​Nominal damages are not the same thing as liquidated damages.
• D)​Liquidated damages are enforceable even if the amount is considered to be a penalty on the breaching party.

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Definitions:

Stereotype

A generalized belief or assumption about the characteristics of a particular group or category of people.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to a given person's mind when evaluating a specific topic, concept, method, or decision.

Representative Heuristic

A mental shortcut that involves making judgments based on how similar something is to our typical idea of a particular category.

Primary Dimension

Fundamental categories or aspects that define the nature or characteristics of an entity, concept, or system.