Consequential Damages Include Lost Profits and Injury to Person or Property

question 34

True/False

Consequential damages include lost profits and injury to person or property.

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Definitions:

Bank Service Charge

Fees charged by a bank for account services, such as account maintenance, transactions, and other banking services.

Outstanding Checks

Checks that have been issued and recorded in the account ledger but have not yet been cashed or cleared by the bank.

Checks Cleared

A term indicating that checks issued have been presented and successfully processed by a bank, deducting the amount from the payer's account.

Checks Written

Refers to checks that a company or individual has written and issued but which have not yet been cashed or cleared through the banking system.