The Amount of Liquidated Damages Included in a Contract That

question 70

Multiple Choice

The amount of liquidated damages included in a contract that would be upheld by a court:

• A) must be reasonable in light of the inconveniences or lack of feasibility of obtaining an adequate remedy.
• B) may be so high as to be punitive to the breaching party.
• C) may be regarded as a penalty.
• D) must be exactly the amount lost in the breach.

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Definitions:

Professional Advice

Expert recommendations or guidance provided by individuals who are qualified in a specific field.

Active Role

The act of taking initiative, participating directly, and being engaged in activities or decisions.

Piaget

A Swiss psychologist known for his pioneering work in child development and cognitive theory.

Cause And Effect

A relationship where one event (the cause) leads to the occurrence of another event (the effect).