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 to the breaching party.
D) Consequential damages are considered 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 are not a direct result of the breach itself but are a consequence of the breach. Nominal damages, on the other hand, are a small amount of money awarded when the nonbreaching party has not suffered a significant financial loss, and are not necessarily tied to a specific loss. Anticipatory breaches can still be awarded monetary damages, as long as the nonbreaching party can demonstrate a financial loss resulting from the breach. Liquidated damages are typically agreed upon by the parties in advance and do not require court intervention to be paid.

Which of the Following Is True of Monetary Damages