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Romashka-Z-Leto [24]
3 years ago
7

Punitive damages are associated with which risk category?

Social Studies
1 answer:
Ainat [17]3 years ago
6 0

Answer:

Liabilities

Explanation:

Liability is a commitment that you owe for somebody else. These are the company legal debts that are raised at the time of the course of the business. Liabilities can be limited or unlimited. These are to be settled over time through the transfer of goods, services and other benefits of the company. The liability is one of the commitments between two parties that can not be completed or paid off. Liability can be defined as current or non-current that depends on the context of the situation.

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Janice is a buyer whose lease will be up before she can close on her new home. She’s writing the purchase contract today and the home is vacant. She should have a written agreement between her and the seller.

These agreements can be specific to the points coordinated by both the parties, sometimes they can be lengthy and sometimes they can be brief, depending upon the requirements. To make sure that you enter into a legally binding agreement, take help of an attorney in this matter.

In the agreement Janice, as a buyer, will have to agree in writing that she will not change anything in the house without the consent of the owner or she will have to pay for it, if the closing of the lease does not take place.

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chubhunter [2.5K]

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3 years ago
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