If the Parties Do Not Agree to Liquidated Damages, Does

question 56

Multiple Choice

If the parties do not agree to liquidated damages, does the UCC provide for them?

• A) Yes, the non-breaching seller may claim against a breaching buyer 20 percent of the purchase price or $500, whichever is less, as liquidated damages.
• B) Yes, the non-breaching seller may claim against a breaching buyer 20 percent of the purchase price or $500, whichever is more, as liquidated damages.
• C) Yes, the non-breaching seller may claim against a breaching buyer 30 percent of the purchase price or $1,000, whichever is less, as liquidated damages.
• D) Yes, the non-breaching seller may claim against a breaching buyer 30 percent of the purchase price or $1,000, whichever is more, as liquidated damages.
• E) No, because liquidated damages are unavailable under the UCC unless the parties have expressly agreed to them.

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Definitions:

Spinal Column

The structural backbone of vertebrates, consisting of a series of bones or vertebrae that protect the spinal cord.

Neurons

Neurons are the basic working units of the brain and nervous system, responsible for receiving sensory input from the external world, sending motor commands to our muscles, and transforming and relaying the electrical signals at every step in between.

Hormones

Chemical messengers produced by the endocrine glands that regulate various bodily functions and behaviors.

Sympathetic Nervous System

A part of the autonomic nervous system that prepares the body for physical activity by accelerating the heart rate, constricting blood vessels, and raising blood pressure.