If the parties do not agree to liquidated damages,does the UCC provide for them?
A)Yes,the non-breaching seller may claim against a breaching buyer 20 percent of the purchase price or $500,whichever is less,as liquidated damages.
B)Yes,the non-breaching seller may claim against a breaching buyer 20 percent of the purchase price or $500,whichever is more,as liquidated damages.
C)No,because liquidated damages are unavailable under the UCC unless the parties have expressly agreed to them.
D)Yes,the non-breaching seller may claim against a breaching buyer 30 percent of the purchase price or $1,000,whichever is more,as liquidated damages.
E)Yes,the non-breaching seller may claim against a breaching buyer 30 percent of the purchase price or $1,000,whichever is less,as liquidated damages.

Question

Quizplus · Accepted Answer

A)The code provides for liquidated damages if the parties have not expressly negotiated a liquidated damage clause.UCC Section 2-718 pertains to liquidated damages and allows the nonbreaching seller to claim against a breaching buyer 20 percent of the purchase price or $500,whichever is less,as liquidated damages.

If the Parties Do Not Agree to Liquidated Damages,does the UCC