Which of the Following Statements Is True for Consequential Damages

question 49

Multiple Choice

Which of the following statements is true for consequential damages?

• A)Liability for it not limited by an agreement between the parties.
• B)It cannot be enforced if it is unconscionable.
• C)It does not allow for recovery of damages caused by consumer goods.
• D)It is enforced even if found to be unconscionable.

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Definitions:

Quarterly Compounded

Quarterly compounded means that interest is calculated and added to the principal sum every quarter (three months), leading to growth in the investment or loan amount.

GIC

A financial product in Canada known as a Guaranteed Investment Certificate that promises a specific return rate for a predetermined time frame.

Compounded Semiannually

Compounded semiannually refers to the process of calculating interest on a principal sum where the interest is added to the principal twice a year, causing it to grow at an accelerated rate.

Strip Bond

A debt security that pays no interest and is sold at a discount from its face value, with the investor receiving the bond's face value at maturity.