Which of the Following Is True with Regard to Remedies

question 96

Multiple Choice

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

• A)An injunction is an equitable remedy that forces a person to comply with the terms of the contract.
• B)The amount of damages to be given to the victim of the breach may be limited to the amount specified in a liquidated damages clause of the contract.
• C)A person who breaches a contract is liable for all loss that directly and naturally flows from the breach, no matter how unforeseeable.
• D)Specific performance is the proper remedy to stop a person from doing something that he or she had promised in the contract not to do (e.g., not to compete, not to disclose secrets, etc.).
• E)The victim of a breach can recover damages that he could have avoided if he had tried to mitigate his loss.

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Definitions:

Schedule A

A form used in the United States tax system for itemizing allowable deductions against personal income to reduce taxable income.

Tax Rate Schedule

A chart or table that determines the amount of tax due based on income brackets, applicable to different filing statuses.

Total Income

The aggregate amount of income earned by an individual or entity from all sources before any deductions or taxes.

Deductions

Expenses that can be subtracted from gross income to reduce taxable income, such as mortgage interest, medical expenses, and charitable contributions.