Which of the Following Is Correct with Respect to Consequential

question 88

Multiple Choice

Which of the following is correct with respect to consequential damages under the Code?

• A)Consequential damages include damages for destruction of a warehouse caused by the explosion of nonconforming goods.
• B)Consequential damages include damages for lost profits from a contract to resell goods which the seller never delivers.
• C)Particular needs of the buyer need to be made known to the seller before the seller can be held responsible for consequential damages relating to those needs.
• D)All of the above are correct.

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Definitions:

Monopolist

An individual or entity that has exclusive control over the supply of a particular good or service, allowing for the manipulation of prices.

Minimum Wage Law

Legislation that sets the lowest hourly wage rate that an employer can legally pay its workers.

Employment

The condition of having paid work or the total number of people currently employed in the economy.

Labor Supply Curve

A graphical representation that shows the relationship between the wages received by individuals and the quantity of labor (hours worked) they are willing to offer at those wages.