What Does the Uniform Commercial Code Provide for Liquidated Damages

question 34

Multiple Choice

What does the Uniform Commercial Code provide for liquidated damages if the parties do not otherwise 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)The Uniform Commercial Code does not establish an amount for liquidated damages if the parties do not otherwise agree to them.

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Definitions:

Induction

The process of initiating or causing something to happen, often used in contexts like labor in childbirth or reasoning in logic.

Unacceptable Behavior

Actions or conduct deemed inappropriate or offensive according to societal standards, norms, or expectations.

Unquestioning Obedience

The act of following orders or directions without questioning or expressing any doubts.

Authoritarian

A leadership or parenting style characterized by strict rules, high expectations, and minimal emotional warmth or feedback.