An Interesting Development That Happened in Late 2008, Relating to the Fed

question 112

Multiple Choice

An interesting development that happened in late 2008, relating to the Fed and bank reserves, was that the Fed

• A) reduced the reserve ratio drastically.
• B) required banks to hold more excess reserves.
• C) started paying interest on the banks' reserves.
• D) gave back all the reserves to the banks to hold as vault cash.

Distinguish between liquidated damages and penalty clauses and their enforceability.

Grasp the principles surrounding the doctrine of quantum meruit and its application in contract law.

Recognize the significance of conditions and warranties in contracts and their impact on contractual obligations.

Understand the legal basis for injunctions in preventing contractual breaches.

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Definitions:

Lactose Maldigestion Intolerance

A condition where the body is unable to properly digest lactose, leading to symptoms such as bloating, diarrhea, and gas.

Calcium Supplement

Dietary supplements taken to ensure adequate intake of calcium, a vital mineral for bone health and proper functioning of the heart and muscles.

Hard Cheese

A type of cheese that has a firm texture and is often aged longer, resulting in a sharper and more pronounced flavor.

Methylphenidate

A central nervous system stimulant medication commonly used to treat Attention Deficit Hyperactivity Disorder (ADHD) and certain sleep disorders.