Dina Entered into a Contract with George

question 52

True/False

Dina entered into a contract with George.She agreed to decorate his office; he agreed to pay her $10 000.She spent $3000 performing her obligations under the agreement.He has paid her $2000, but refuses to pay any more.Under the concept of reliance damages, George must now pay $8000 to Dina.

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Definitions:

Spread

The difference between the bid and the ask price of a security or the difference between the interest rate paid for deposits and received for loans.

Institutional Investors

Organizations such as banks, insurance companies, and pension funds that make substantial investments on the capital markets.

Major Exchanges

The leading stock exchanges worldwide, such as the New York Stock Exchange and the Nasdaq, where securities are bought and sold.

Price Setting

The process by which a company determines the selling price of its products or services.