Question 1

Miller made a contract to sell his condominium to Jefferson for $80,000. Two days later Miller changed his mind after discovering that he could have sold the property to another buyer for an additional $20,000. Jefferson sues and asks the court to have the property conveyed to him at the price of $80,000. Jefferson is seeking:

Accepted Answer

A)   restitution.
B)   punitive damages.
C)   specific performance.
D)   valid tender.E) C) and D)
F) B) and D)

Question 2

Which of the following is NOT true regarding specific performance?

Accepted Answer

A)   It will not be granted if money damages would be adequate to compensate the injured party.
B)   It is granted in contracts involving unique items of personal property.
C)   It will be granted frequently in contracts involving the sale of goods.
D)   The courts will not order directly the specific enforcement of contracts for personal services.E) B) and C)
F) A) and D)

Question 3

To accomplish the basic purposes of contract remedies, which of the following limitations have not been imposed upon monetary damages?

Accepted Answer

A)   Foreseeability.
B)   Certainty.
C)   Mitigation.
D)   Restitution.E) A) and B)
F) A) and C)

Question 4

The costs or losses an injured party avoids by not having to perform are not figured in the computation of damages.

Accepted Answer

A) True 
 B)False

Question 5

Howard needs a truck to pull a 2,000-pound trailer. Gordon tells Howard, "My truck will pull a 2,000 pound trailer with ease." Relying on Gordon's statement, Howard buys the truck, but it will not pull a 2,000-pound trailer. If Gordon did not intend to deceive and Howard sues for nonfraudulent misrepresentation, he can ask for:

Accepted Answer

A)   punitive damages, but not out-of-pocket damages.
B)   out-of-pocket damages, plus consequential damages.
C)   out-of-pocket damages plus punitive damages.
D)   nominal damages because Howard should have known the capacity of the truck.E) B) and C)
F) C) and D)

Question 6

A power of avoidance held by a party may be lost if:

Accepted Answer

A)   the contract is affirmed.
B)   there are unreasonable delays in exercising the power.
C)   the rights of third parties intervene.
D)   All of these.E) B) and C)
F) C) and D)

Question 7

When a breach of contract occurs, the nonbreaching party is required to take reasonable steps to lessen or mitigate the damages that he may sustain.

Accepted Answer

A) True 
 B)False

Exam 18: Contract Remedies

Correct Answer
verified

To accomplish the basic purposes of contract remedies, which of the following limitations have not been imposed upon monetary damages?

Correct Answer
verified

The costs or losses an injured party avoids by not having to perform are not figured in the computation of damages.

Correct Answer
verified

A power of avoidance held by a party may be lost if:

Correct Answer
verified

When a breach of contract occurs, the nonbreaching party is required to take reasonable steps to lessen or mitigate the damages that he may sustain.

Correct Answer
verified

Which of the following is NOT true regarding specific performance?

Correct Answer
verified

Correct Answer
verified

Exam 18: Contract Remedies

Correct AnswerverifiedShow Answer

To accomplish the basic purposes of contract remedies, which of the following limitations have not been imposed upon monetary damages?

Correct AnswerverifiedShow Answer

The costs or losses an injured party avoids by not having to perform are not figured in the computation of damages.

Correct AnswerverifiedShow Answer

A power of avoidance held by a party may be lost if:

Correct AnswerverifiedShow Answer

When a breach of contract occurs, the nonbreaching party is required to take reasonable steps to lessen or mitigate the damages that he may sustain.

Correct AnswerverifiedShow Answer

Which of the following is NOT true regarding specific performance?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified