Question

which type of damages would occur if the parties specify in advance the amount of losses or a formula in assessing the losses against the breaching party? multiple choice consequential punitive liquidated nominal statutory

Explanation:

To solve this, we analyze each option:

• Consequential damages are indirect losses from a breach, not pre - specified.
• Punitive damages are for punishment, not pre - specified amounts.
• Liquidated damages are defined as damages where parties agree in advance on the amount or a formula to calculate losses for a breach. This matches the description in the question.
• Nominal damages are a small amount to recognize a breach, not pre - specified in the way described.
• Statutory damages are set by law, not by the parties in advance.

Answer:

C. Liquidated