Which of the Following Statements Is the Best Description of 'Nominal

question 38

Multiple Choice

Which of the following statements is the best description of 'nominal' damages?

• A)An amount awarded where the innocent party's rights have been infringed but they have suffered no actual loss.
• B)An amount awarded to compensate the innocent party for the loss suffered as a result of the breach of contract.
• C)An amount awarded to punish the party in breach of the contract.
• D)An amount based upon a genuine pre-estimate of actual loss flowing from the breach of contract.

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Definitions:

Bootstrapping

Starting a business with minimal financial resources and relying on one's own efforts and funds rather than seeking significant external funding.

Customer Base

The group of customers who repeatedly purchase the goods or services of a business, representing the business's main source of revenue.

Crowdfunding

Securing capital for a project or business by requesting small financial contributions from a large group of individuals, mainly via online channels.

Product Pitch

A presentation or argument made to potential customers or investors, highlighting the benefits and value of a product.