In the Absence of a Liquidated Damages Clause and in the Absence

question 5

Multiple Choice

In the absence of a liquidated damages clause and in the absence of proof of greater damages,the seller's damages are computed as

• A) 25% of the purchase price or $500,whichever is less.
• B) 25% of the purchase price or $500,whichever is greater.
• C) 20% of the purchase price or $500,whichever is greater.
• D) 20% of the purchase price or $500,whichever is less.

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Definitions:

Gross National Income Per Capita

A measure that calculates the average income earned per person in a country, taking into account all residents' incomes.

Net National Income Per Capita

An economic metric that measures the total net income of a nation divided by its population, indicating the average income of its citizens.

Gross Domestic Product Per Capita

A measure of a country's economic output that accounts for its number of people, reflecting the average income of a country's citizens.

Capital

A resource that can serve to generate wealth, such as factories, equipment, investment accounts, software, land, and education.