Home Delivery Corporation, Inc., and Interstate Transport, Inc. sign an agreement that provides for the payment of
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Question:
Home Delivery Corporation, Inc., and Interstate Transport, Inc. sign an agreement that provides for the payment of “$1,000 by whichever party commits a material breach of the contract that creates damages difficult to estimate but approximately $1,000.” This is?
a. | a waiver-of-breach clause. | |
b. | a nominal-damages clause. | |
c. | a liquidated damages clause. | |
d. | a penalty clause. |
Related Book For
Personal Financial Planning
ISBN: 978-1111971632
13th edition
Authors: Lawrence J. Gitman, Michael D. Joehnk, Randy Billingsley
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