For each of the following, identify in Column 1 the category to which the account belongs, in Column 2 the normal balance for the account, in Column 3 the financial statement that the account in which the account balance is reported, and in Column 4 the account's nature (temporary/permanent).
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Definitions:
Compensatory Damages
Financial compensation awarded to a plaintiff to cover losses directly related to an injury or damage.
Reliance Interest
Refers to the compensation aimed at putting a party in the position they would have been in had a contractual promise not been made.
Concurrent Condition
A situation in contract law where the obligations of parties are to be performed at the same time; the performance of one party is conditioned upon the performance by the other.
Constructive Condition
A condition inferred by law from the conduct of parties or the circumstances, rather than explicitly stated in a contract.
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