Which of the Following Statements Is the Best Description of 'Unliquidated

question 31

Multiple Choice

Which of the following statements is the best description of 'unliquidated' damages?

• A)An amount awarded where the innocent party's rights have been infringed but they have suffered no actual loss.
• B)An amount awarded to punish the party in breach of the contract.
• C)An amount awarded to compensate the innocent party for the loss suffered as a result of the breach of contract.
• D)An amount not fixed in the contract and left for the court to determine.

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Definitions:

Plumbing Repair

Refers to the services and actions taken to fix, maintain, or install water, gas, and sewage systems in residential or commercial properties.

Rental Income

Revenue generated by leasing property or equipment.

Primarily Rental

Pertaining to the use of property mainly for rental purposes, which may affect the tax treatment of income and expenses related to the property.

Primarily Personal

This term typically pertains to expenses or activities that are mainly for personal benefit, and therefore, not deductible for tax purposes if related to business.