Question: Match the following terms with the correct definitions. Question 2 9 options: The price paid for a promise. A term of a contract that restricts
Match the following terms with the correct definitions.
Question options:
The price paid for a promise.
A term of a contract that restricts liability for breach to something less than would otherwise be recoverable.
A term in a contract in which the parties agree that their contract is complete as written.
nonperformance of the contract will be excused without liability
an amount to be paid in the event of a contract breach which is agreed to by the parties in advance
an order to refrain from doing something for a limited period of time
A promise for which no consideration is given.
A minor term that if breached gives the innocent party the right to claim damages only.
A clause forbidding one party from going into a particular business or employment for a specified period of time.
the replacement of one contract with another.
A contract that in certain circumstances an aggrieved party can choose to keep in force or bring to an end.
pledge to pay another's liability in the event of default of such duty
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
