Posted: May 2nd, 2017
Gadgetbug Corp. and Alba Inc. are two companies that have entered into a contract. According to the terms of this contract, if any one party breaches the contract, it will pay the nonbreaching party a fixed amount of $50,000. What type of remedy for contract breaches is best illustrated in the scenario?
Compensatory damages
Consequential damages
Liquidation damages
Restitution
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