Certain defaults, unfortunately, happen quite often and so they are planned for and consequences outlined in the contract. An example is the earnest money deposit. This is:

(a) Pur autre' vie
(b) Liquidated damages
(c) Hypothecation
(d) Subrogated damages

Answer: (b) Liquidated damages

Business

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All relevant evidence is admissible

a. True b. False

Business

According to Table 13-4, the time between successive arrivals is 1, 2, 3, or 4 minutes. The store opens at 8:00 a.m., and random numbers are used to generate arrivals and service times

The first random number to generate an arrival is 39, while the first service time is generated by the random number 94. What time would the first customer finish transacting business? A) 8:03 B) 8:04 C) 8:05 D) 8:06 E) None of the above

Business