TAC Is an Acronym for ________

question 62

Multiple Choice

TAC is an acronym for ________.

• A) total allowable catch
• B) tough allocation criteria
• C) total annual catch
• D) tallied annual caught

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Definitions:

Specific Performance

A legal remedy where the court orders a party to perform their obligations under a contract, rather than paying damages.

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.