Discuss and explain the five types of contract damages
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A: True.
Discuss and explain the five types of contract damages
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- Briefly describe some of the out-of-court remedies for breach of contract, and briefly explain the two major categories of court awarded remedies for breach of contract.What are the key elements of a valid and enforceable contract, and what remedies are available in case of contract breaches?What are the elements of a contract? Explain who the parties of a contract might be.
- Explain the process and legal requirements involved in drafting and enforcing contracts in business transactions.Under the Uniform Commercial Code (UCC), which of the following remedies is available to both buyers and sellers? Select one: a. Recovering the total value of goods in the contract b. Recovering profit from the resale of nonconforming goods by the other party c. Damages in the amount of the difference between the contract price and the market price of goods d. Obtaining specific performance of the contractDescribe Express and implied contracts. What does it mean when a contract is called void and voidable?
- Explain the concept of contract law. What are the essential elements of a contract, and what types of contracts are enforceable? What remedies are available for breach of contract, and what steps can a business take to minimize its liability for breach of contract?What are the essential elements of a valid contract under business law, and how do they contribute to the enforceability of the contract?Identify FOUR (4) ways to terminate a contract, esplain it briefly and include examples