The New Simple IRA Plans Allow Employees of ________ Companies

question 127

Multiple Choice

The new simple IRA plans allow employees of ________ companies to contribute larger amounts than the traditional IRA.

• A) nonprofit
• B) small
• C) big
• D) international

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Definitions:

Breach Of Contract

The violation of any of the agreed-upon terms and conditions of a binding contract.

Special Damages

Compensatory damages that cover specific, quantifiable financial losses suffered by a plaintiff, such as medical bills or lost wages, due to the defendant's wrongdoing.

Incidental Damages

Damages that compensate for expenses directly incurred because of a breach of contract, such as those incurred to obtain performance from another source.

Rescind The Contract

The legal action of canceling or nullifying a contract, effectively terminating the agreement and releasing the parties from their obligations.