Question: A small breach of contract damage amount fixed without regard to the amount of loss is known as: out - of - pocket damages. nominal

A small breach of contract damage amount fixed without regard to the amount of loss is known as:
out-of-pocket damages.
nominal damages.
reliance damages.
None of these.
A small breach of contract damage amount fixed without regard to

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

As of June 30, 2022 (the computation date for the 2023 tax rate), Sanchez Company had a negative balance of $1,190 in its unemployment reserve account in State A. The companys average payroll over...

Q:

A small breach of contract damage amount fixed without regard to the amount of loss is known as: a . None of these. b . reliance damages. c . nominal damages. d . out - of - pocket damages.

Q:

A small damage amount fixed without regard to the amount of loss is known as: incidental damages. out - of - pocket damages. reliance damages. nominal damages.

Q:

Question 7 2 pts In which of the following situations is restitution available as a remedy? For a party in default As an alternative remedy for a party injured by breach O ALL of the answers are...

Q:

A small money amount awarded for a breach of contract which is given without regard to the actual amount of loss is known as: Group of answer choices a)punitive damages b)nominal damages...

Q:

Side Agreements Business Law Individual Assignment I. Introduction The Commercial Companies Law of the United Arab Emirates (Federal Law No. 8 of 1984, as amended) provides for seven types of...

Q:

In Tennessee, at common law, unlicensed contractors had no right to recover anything on their contracts. The Contractors Licensing Act changed this rule to permit unlicensed contractors to recover...

Q:

Question 1 Compensatory damages represent: A specific sum of money specifically spelled out in the contract to be paid in case of breach of the contract. Damages to be awarded to punish or to make an...

Q:

a) Must be signed by both parties b) Must be in writing c) Must always specify the amount of the item contracted for d) Must be made in good faith A small, monetary amount in damages that is awarded...

Q:

Assignment #1 Directions: Read and answer the questions below.This assignment is to be completed in two steps.Step One of the assignment is due on October 7, 2021, before class.For Step One, you are...

Q:

2. Which of the following is NOT considered to be an alternative method of dispute resolution? a. Special verdict b. Negotiation c. Conciliation d. Mediation 3. Whatever powers are not specifically...

Q:

What three storage areas are responsible for memory? Describe each in terms of its duration and capacity. Where is meaning attached to stimuli?

Q:

What can industry do to deal with workplace illiteracy?

Q:

28. Kimberly Ashley owns Ashleys Consulting Service. At the beginning of September, her firms financial records showed the following assets, liabilities, and owners equity. Cash $76,000 Accounts...

Q:

Cheyenne Corporation began operations in 2020 and reported pretax financial income of $215,000 for the year. Cheyenne's tax depreciation exceeded its book depreciation by $36,000. Cheyenne's tax rate...