The categories of discharge are: a. Privity, assignment of rights, and delegation of duties b. Performance, breach, agreement, and operation of law c. Misrepresentation of material fact, intent to defraud, and causing injury d. Subsequent illegality, bankruptcy, and statute of limitations Consequential damages are not allowed if: They were not reasonably foreseeable b. a. Not specified in the contract in advance Not as a result of gross negligence d. c. The plaintiff has great personal wealth Name the purpose(s) of commercial paper (as a negotiable instrument). Allows companies with strong credit ratings to raise funds to pay debts or meet working a. capital needs. b. Helps to promote marketing plans and increase sales revenue. Serves as a way to extend credit and a substitution for money. C. Allows issuers to float funds and show greater levels of current assets d. Gerald has agreed to purchase Reta's home for $50,000. As part of the agreement, he must put down a deposit of $5,000. Both parties agree that if either of them does not follow the terms of the contract, the other person gets the $5,000 deposit. Gerald fails to follow through with the purchase Reta keeps the $5,000. This is an example of a. Compensatory damages b. Consequential damages c. Liquidated damages d. Punitive damages