What Does the UCC Provide Regarding Liquidated Damages If the Parties

question 63

Multiple Choice

What does the UCC provide regarding liquidated damages if the parties do not agree to them?

• A) That the nonbreaching seller may claim against a breaching buyer 20 percent of the purchase price or $500, whichever is less, as liquidated damages.
• B) That the nonbreaching seller may claim against a breaching buyer 20 percent of the purchase price or $500, whichever is more, as liquidated damages.
• C) That the nonbreaching seller may claim against a breaching buyer 30 percent of the purchase price or $1,000, whichever is less, as liquidated damages.
• D) That the nonbreaching seller may claim against a breaching buyer 30 percent of the purchase price or $1,000, whichever is more, as liquidated damages.
• E) Nothing because liquidated damages are unavailable under the UCC unless the parties have expressly agreed to them.

---

Definitions:

Systematic Oversight

Systematic oversight involves organized and consistent monitoring and evaluation of a process, system, or organization to ensure compliance with standards and to improve efficiency and effectiveness.

Prison Conditions

The set of circumstances affecting the environment within a prison, including facilities, treatment of inmates, and overall living quality.

Operations

Refers to the day-to-day activities and procedures companies or organizations carry out to fulfill their functions and achieve their objectives.

Complex Rules

Set of guidelines or principles that are intricate and detailed, often requiring careful study or expertise to understand fully.