Bobby and Fredrick Specify in Their Contract That for Every

question 72

Multiple Choice

Bobby and Fredrick specify in their contract that for every day Bobby's construction company does not complete Fredrick's new house, Bobby will deduct $1000. This is known as a ________ damages clause.

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

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Definitions:

Invention

The creation or innovation of new ideas, processes, goods, or services that did not previously exist, contributing to technological or scientific advancement.

Income

Money earned from work, investments, business, or any other sources, representing the financial gain derived by individuals or businesses.

Technological Advance

A phase of innovation where new technologies significantly improve processes, goods, or services.

Manufacturing Industries

Sectors of the economy that use machinery, tools, and labor to produce goods for use or sale.