An Agency with Broad Discretion to Make Rules and the Expertise

question 102

Multiple Choice

An agency with broad discretion to make rules and the expertise and time to promulgate them is called a(n)

• A)cabinet department.
• B)independent agency.
• C)government corporation.
• D)nonprofit agency.
• E)independent regulatory commission.

---

Definitions:

Liquidated Damages Clause

A contract provision that establishes a predetermined amount of damages to be paid if one of the parties breaches the contract.

Material Breach

A violation of a contract's terms that is so substantial it fundamentally disrupts the contract's purpose, allowing the other party to terminate the agreement.

Difficult to Estimate

Refers to a situation, value, or outcome that is challenging to predict or quantify accurately due to varying factors or complexities.

Doctrine of Mitigation

A legal principle that requires a party suffering loss due to a breach of contract to take reasonable steps to minimize the damage or loss.