The Parties to a Contract May Specify a Reasonable Amount

question 28

Multiple Choice

The parties to a contract may specify a reasonable amount to be paid in the event of a future breach of the contract, which is called______ damages.

• A) consequential
• B) liquidated
• C) punitive
• D) compensatory

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Definitions:

Environmental Regulators

Authorities or agencies responsible for enforcing laws and regulations intended to protect the environment from harmful industrial or commercial activities.

Pollution Emissions

The release of pollutants into the environment, usually as a byproduct of human activity, which can harm human health, natural ecosystems, and the climate.

Government Charges

Fees or dues levied by the government on businesses or individuals for various purposes.

Property Rights

The legal rights to use, control, and derive benefits from a property or resource.