Which of the Following Is Correct with Respect to Election

question 80

Multiple Choice

Which of the following is correct with respect to election of remedies?

• A)The Code rejects any doctrine of election of remedies in contracts for the sale of goods; its remedies are cumulative.
• B)The remedy of specific performance is inconsistent with that of restitution.
• C)A person who seeks an injunction may also seek incidental damages for the breach.
• D)All of the above are correct.

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Definitions:

Net Working Capital

The gap between a business's current assets and its current liabilities, showcasing the firm's liquidity.

Capital Cost Allowance (CCA)

The Capital Cost Allowance (CCA) is a tax deduction available in Canada that represents a yearly depreciation charge for capital assets used in business activities, allowing businesses to write off the cost of assets over time.

Tax Rate

The percentage at which an individual or corporation is taxed on their income or profit.

Required Return

The minimum profit that investors expect to earn on their investment to compensate for the risk taken.