A Remedy Limitation Is More Likely to Be Declared Unconscionable

question 40

True/False

A remedy limitation is more likely to be declared unconscionable in consumer cases involving personal injury.

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Definitions:

Comparative Advantage

Comparative advantage is an economic principle that posits a country or entity can produce a good or service at a lower opportunity cost than another, leading to more efficient trade possibilities.

Opportunity Cost

Forgoing the possibility of profit from various alternatives by choosing a specific one.

Production

The method of merging different tangible and intangible inputs (like designs and expertise) to produce an item meant for consumption (known as the output).

Opportunity Cost

The cost of foregone alternatives when one option is chosen over another.