The Damages the Parties to a Contract Specify in Case

question 104

Multiple Choice

The damages the parties to a contract specify in case of breach are called:

• A)liquidated damages.
• B)monetary damages.
• C)compensatory damages.
• D)consequential damages.

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Definitions:

Income Security

A social welfare concept ensuring individuals have a basic level of income to cover essential needs.

Social Security

A government program that provides financial assistance to individuals during retirement, disability, or upon the death of a spouse or parent.

Discretionary Spending

This refers to the portion of government spending that is decided through the annual appropriations process, covering non-essential services that do not include mandatory spending like Social Security and Medicare.

Federal Spending

involves the financial expenditures of the federal government, including spending on defense, education, public services, and social welfare.