Which of the following is true of monetary damages?
A)Nominal damages are paid once the nonbreaching party has suffered a financial loss.
B)Anticipatory breaches cannot be awarded monetary damages.
C)Liquidated damages are set by the court towards the breaching party.
D)Consequential damages are considered as monetary damages.

Question

Quizplus · Accepted Answer

Consequential damages are a type of monetary damages that are awarded to compensate the nonbreaching party for losses that were foreseeable but occurred as a result of some action or event that took place after the breach. Nominal damages are a small amount of money awarded when no actual damages were incurred. Anticipatory breaches can be awarded monetary damages if the nonbreaching party can prove that they suffered a financial loss as a result of the breach. Liquidated damages are predetermined in the contract and are paid by the breaching party if they fail to perform. The court does not set them.

Which of the Following Is True of Monetary Damages