A Small Breach of Contract Damage Amount Fixed Without Regard

question 89

Multiple Choice

A small breach of contract damage amount fixed without regard to the amount of loss is known as:

• A)reliance damages.
• B)out-of-pocket damages.
• C)nominal damages.
• D)None of the above.

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Definitions:

Wage Rate

The standard amount of pay given for work performed, typically expressed as an amount per hour or amount per piece of work completed.

Endowment

The total resources, including wealth, talent, or abilities, that individuals or institutions possess, which can influence their capacity to make economic decisions.

Alimony

Financial support paid by one ex-spouse to another after divorce, as ordered by a court.

Budget Line

A graphical representation that shows all possible combinations of two goods that a consumer can afford with their income level.