Question
Business Law class 46. A liquidated damages provision is valid, provided: a. it is in writing; b. it rewards only nominal damages; c. it is
Business Law class
46. A liquidated damages provision is valid, provided:
a. it is in writing;
b. it rewards only nominal damages;
c. it is not assignable;
d, it is not so high as to be a penalty.
47 A party to a contract has a duty to __________or reduce his/her damages.
a. mitigate;
b. litigate;
c. defer;
d. increase;
48. Foreseeable damages which flow from a partys breach of contract, which the breaching party is aware of prior to the breach, are ______damages.
a. compensatory;
b. punitive;
c. consequential;
d. nominal.
49. Al-Awlaqi is a contractor who owns a crane. He has been hired by
Hammes to bring his crane to a construction site. The night before the project is to begin. Al-Awlaqis crane is destroyed in a storm. Regarding performance of the contract, he has the defense of:
a. commercial impracticability;
b. frustration of purpose;
c. impossibility;
d. Substantial performance.
50. Any deviation from full and complete performance is classified as a(n):
a. excuse;
b. deviation;
c. release;
d. breach.
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