Damages Must Be Established with Reasonable Certainty

question 30

True/False

Damages must be established with reasonable certainty.

---

Definitions:

Nominal Rate

The stated interest rate of a bond or loan, not adjusted for inflation.

Compounded Annually

A method in which interest is calculated once per year and added to the total sum, affecting the principal for the next period.

Promissory Note

A promissory note is a financial instrument that contains a written promise by one party to pay another party a determinate sum of money either on demand or at a specified future date.

Compounded Semi-Annually

The method of calculating interest on a principal where the interest is computed twice a year and each interest payment is added to the principal for future calculations.