Examlex
All of the following are TRUE EXCEPT
Consequential Damages
Compensation for losses that directly and foreseeably result from the breach of a contract or other wrongful act.
Lost Profits
Damages claimed in a lawsuit representing the profits one would have made but for another party's wrongful act.
Speculative
Involving a high risk of loss but also offering the potential for substantial gains, often based on future expectations rather than current realities.
Insolvent
Being insolvent means lacking the financial ability to pay debts when they are due, which can lead to bankruptcy or other legal financial proceedings.
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