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When distractors are likely to be selected as alternative responses on multiple-choice tests,
Liquidated Damages
A predetermined amount of money that must be paid as damages for failure to perform under a contract.
Reliance Damages
Compensation awarded for losses suffered as a result of relying on a promise or agreement, even if a contract was never formalized.
Lost Profits
Refers to the income that a business could have earned but was unable to due to some form of disruption or another party's actions.
Misrepresentation
A false statement of fact made by one party to another, which has the effect of inducing that party into a contract.
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