What Does the UCC Provide Regarding Liquidated Damages If the Parties

question 83

Multiple Choice

What does the UCC provide regarding liquidated damages if the parties do not 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) Nothing

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Definitions:

Steamship Design

The architectural planning and engineering process involved in creating steam-powered vessels, pivotal to the 19th-century transportation revolution.

Wage Labor

A socioeconomic relationship where a worker sells their labor under a formal or informal agreement, and is paid a periodic wage or salary, not owning the means of production or the product of their work.

Civil War

A war between citizens of the same country.

Plantation Labor

Work or toil, often forced, that takes place on large agricultural estates, historically associated with the cultivation of crops like cotton, sugar, and tobacco.