Creekside Property Corporation Enters into a Contract with Downstream Management

question 5

Multiple Choice

Creekside Property Corporation enters into a contract with Downstream Management Associates to manage and maintain Creekside's apartment complex.Their contract provides that neither party can recover damages for a non-fraudulent or unintentional breach.This is

• A)a limitation-of-liability clause.
• B)an exculpatory clause.
• C)an illegal clause.
• D)a quasi contract.

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Definitions:

Price Ranges

The spread between the lowest and highest price at which a good or service is sold in a market.

Price Elasticity

A calculation that shows the impact of price changes on the quantity of a good that is demanded.

Price Increase

A rise in the cost of goods or services, affecting the purchasing power of consumers.

Widgets

A generic term often used to refer to any hypothetical manufactured good or product.