A Contract Clause Which Specifies the Amount of Damages to Be

question 34

Multiple Choice

A contract clause which specifies the amount of damages to be paid in the event of a breach is called

• A)a covenant of damages clause.
• B)a reliance interest of damages clause.
• C)a liquidated damages clause.
• D)an incidental damages clause.

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Definitions:

Standardized Good

A product that is uniform in quality and specifications across all units and is often mass-produced.

Risky

Entails exposure to danger, harm, or loss, often used to describe investments or decisions with a high potential for negative outcomes.

Productivity

The measure of efficiency in converting inputs into useful outputs, often assessed in the context of work, manufacturing, and time management.

Salespeople

Individuals who sell goods and services to customers, often directly, using knowledge, persuasion, and interpersonal skills to achieve sales objectives.