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Lucky,a contractor,enters into a contract with Penny,a homeowner,to remodel her kitchen.The contract provides a specific completion date.The contract provides that if Lucky does not have the job finished by the date,Penny may deduct $100 per day from the contract price until the job is finished.This is an example of liquidated damages.
Theory
A system of ideas intended to explain something, based on general principles independent of the thing to be explained.
Capitalist System
An economic and social system in which trade, industries, and the means of production are largely or entirely privately owned and operated for profit.
Deviant Behavior
Actions or conduct that deviate from societal norms and expectations, often eliciting negative sanctions.
Unequal Distribution
A situation where resources, wealth, or opportunities are not evenly allocated among all members of a society or group.
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