Under the UCC If a Liquidated Damage Clause in a Contract

question 30

True/False

Under the UCC if a liquidated damage clause in a contract turns out to be non-enforceable then the injured party can sue for actual damages.

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Definitions:

Uncertain Prices

Refers to the variability and unpredictability in the prices of goods, services, or securities, which can be influenced by various factors including market demand, inflation, and economic policies.

Near Future

A term referring to a time period that is immediately ahead, typically in the context of events expected to happen soon.

Long-Run Financial Risk

The potential for financial loss or difficulties a company may face over an extended period, often due to changes in market conditions, operational challenges, or shifts in demand.

Price Of Corn

The market value per unit of corn, influenced by factors such as supply, demand, weather conditions, and agricultural policies.