Kris Contracts to Work Exclusively for Local Company During May

question 61

Multiple Choice

Kris contracts to work exclusively for Local Company during May for $5,000.On April 30,Local cancels the contract.Kris finds another job dur?ing May but earns only $3,000.Kris files a suit against Local.As compen?sa?tory damages,Kris can recover

• A)$3,000.
• B)$2,000.
• C)$1,000.
• D)nothing.

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Definitions:

Ownership

The state or fact of legal possession and control over property, which can include both tangible assets like real estate and intangible ones like intellectual property.

Stock

Shares of ownership in a corporation, representing a claim on part of its assets and earnings.

Investors

Individuals or entities that allocate capital with the expectation of receiving financial returns.

Income Statement

A financial report that outlines a company's revenues, expenses, and profits over a specific period, typically a quarter or year, to show its performance.