Which of the Following Statements Best Defines Economic Damages in Civil

question 25

Multiple Choice

Which of the following statements best defines economic damages in civil litigation?

• A) It refers to the economic loss suffered by businesses as a result of lack of knowledge or ignorance of law.
• B) It refers to the intentional nonperformance of duties which results in economic losses to the claimant.
• C) It refers to the monetary compensation that is awarded in civil litigation against losses.
• D) It refers to the economic loss suffered by businesses as a result of the negligence of a defendant.

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Definitions:

APR

Annual Percentage Rate; the annual rate that is charged for borrowing, representing the actual yearly cost of funds over the term of a loan.

Compounded Weekly

Refers to the process of calculating interest on both the initial principal and the accumulated interest from previous periods on a weekly basis.

Deposit

Money placed into a financial institution for safekeeping or as a part of initiating a larger transaction.

APR

Annual Percentage Rate, which shows the cost of credit on a yearly basis expressed as a percentage.