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) 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.
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) No, because liquidated damages are unavailable under the UCC unless the parties have expressly agreed to them.
Correct Answer:
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