Greenlee and Monica identify in their contract an amount of damages that will be paid before a breach occurs. These types of damages are known as ________.

A) Nominal damages
B) Compensatory damages
C) Reliance damages
D) Liquidated damages
E) Consequential damages

Question

DARIUS Booker · Accepted Answer

Final Answer : D, Explanation :  Liquidated damages are predetermined amounts specified in a contract that a party agrees to pay in the event of a breach. This is to provide a clear, agreed-upon consequence for failing to fulfill the contract terms.

Greenlee and Monica identify in their contract an amount of damages that will be paid before a breach occurs. These types of damages are known as ________.

A) Nominal damages
B) Compensatory damages
C) Reliance damages
D) Liquidated damages
E) Consequential damages

Definitions

Learning Objectives

Learning Objectives

Related questions

Greenlee and Monica identify in their contract an amount of damages that will be paid before a breach occurs. These types of damages are known as ________.A) Nominal damagesB) Compensatory damagesC) Reliance damagesD) Liquidated damagesE) Consequential damages

Definitions

Learning Objectives

Learning Objectives

Related questions

Greenlee and Monica identify in their contract an amount of damages that will be paid before a breach occurs. These types of damages are known as ________.

A) Nominal damages
B) Compensatory damages
C) Reliance damages
D) Liquidated damages
E) Consequential damages