Which of the Following Is True with Regard to Remedies

question 120

Multiple Choice

Which of the following is true with regard to remedies for breach of contract?

• A)If the seller has committed a "fundamental breach" of the contract, an exemption clause absolves the seller from liability.
• B)Non est factum is an equitable remedy forcing a person to comply with the terms of the contract.
• C)The victim of a breach can recover damages that he could have avoided if he had tried to mitigate his loss.
• D)Damages are awarded by the court to a person who has suffered loss because of a breach of an essential term of the contract, but are not awarded for a breach of a non-essential term (i.e., a warranty).
• E)A person who breaches a contract is liable for all foreseeable loss that directly and naturally flows from the breach.

Distinguish between different hedging strategies: fair value hedges, cash flow hedges, and speculative transactions.

Record and adjust foreign currency transactions and hedges according to IFRS 9.

Analyze the effect of foreign exchange rate changes on forward contracts, receivables, payables, and loans.

Prepare journal entries and balance sheet presentations for foreign currency transactions and hedges.

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Definitions:

Estimated Regression Coefficient

A coefficient estimated from data that quantifies the relationship between the independent variable and the dependent variable in a regression analysis.

Independent Variables

Variables in a study or experiment that are manipulated or changed by the researchers to determine their effects on the dependent variable.

Dependent Variable

In a study or experiment, this is the element that is predicted to alter due to modifications in the independent variable.

Regression Sum Of Squares

The portion of the total variance in a dependent variable that is explained by the regression model, indicating the model's explanatory power.