Question 1

A liquidated damages clause will not always be effective.Explain.

Accepted Answer

A liquidated damages clause that provide

Question 2

Exemption clauses are generally strictly construed against the party that is not seeking to rely on them.

Accepted Answer

A) True 
 B)False

Question 3

A breach of a minor term will not discharge a contract,but a major term that is broken in only a minor respect will discharge a contract.

Accepted Answer

A) True 
 B)False

Question 4

Between the time when a contract is formed and the date of performance,a promisee is entitled to

Accepted Answer

A) notice of any anticipatory breach. 
B) performance of the warranties. 
C) notice of any intention on the party of a party to breach the contract. 
D) notice of all conditions and warranties. 
E) a continuous expectation of performance. 
A) notice of any anticipatory breach. 
B) performance of the warranties. 
C) notice of any intention on the party of a party to breach the contract. 
D) notice of all conditions and warranties. 
E) a continuous expectation of performance.

Question 5

Casey Construction abandoned its $23 million North County road project after spending $7 million.By this time,one progress payment of $5 million had been made.The county immediately contracted with Beachwood Corp.to take over and finish the project for $21 million.Expectation damages for Casey Construction would be

Accepted Answer

A) the difference between $16 and $21 million. 
B) the difference between $21 and $23 million. 
C) zero,since Casey did $2 million of work where no payment was received. 
D) none;only consequential damages might apply. 
E) the difference between $18 and $21 million. 
A) the difference between $16 and $21 million. 
B) the difference between $21 and $23 million. 
C) zero,since Casey did $2 million of work where no payment was received. 
D) none;only consequential damages might apply. 
E) the difference between $18 and $21 million.

Question 6

Carlos,an antique dealer,contracted to buy an antique dining room set at a garage sale for $700.He made a down payment and agreed to return on the weekend to pick it up.Then Carlos contacted a former customer who he knew wanted such an item.This customer agreed to pay $850 for the set.However,when Carlos returned on the weekend to where the garage sale had been,he found that the dining room set had been sold to someone else for $900 and had already been hauled away.Carlos was given back his down payment cheque.Does Carlos have any other claim to damages?

Accepted Answer

A) Yes,he does,for mental anguish. 
B) No,he doesn't;there are no further damages. 
C) Yes,he does,for $150 of consequential damages. 
D) Yes,he does,for $200 of consequential damages. 
E) Yes,he does,for $200 of expectation damages. 
A) Yes,he does,for mental anguish. 
B) No,he doesn't;there are no further damages. 
C) Yes,he does,for $150 of consequential damages. 
D) Yes,he does,for $200 of consequential damages. 
E) Yes,he does,for $200 of expectation damages.

Question 7

Buildco Limited enters into a contract that has an exemption clause.Buildco's employees,during the course of constructing the home of Jack,fail to exercise care,as a result of which the home is damaged and Buildco is liable to Jack.Will Buildco be able to rely on the exemption clause?

Accepted Answer

The courts generally frown on the use of

Question 8

General damages are

Accepted Answer

A) damages that cannot be precisely calculated in monetary terms. 
B) damages that are meant to punish the wrongdoer,whether calculable or not. 
C) damages that include both readily calculable damages and damages that cannot be precisely calculated. 
D) damages that can be readily calculated. 
E) all of the above 
A) damages that cannot be precisely calculated in monetary terms. 
B) damages that are meant to punish the wrongdoer,whether calculable or not. 
C) damages that include both readily calculable damages and damages that cannot be precisely calculated. 
D) damages that can be readily calculated. 
E) all of the above

Question 9

The failure of an innocent party to take steps to reduce the loss arising from a breach of contract is of no consequence at all.

Accepted Answer

A) True 
 B)False

A liquidated damages clause will not always be effective.Explain.

Exemption clauses are generally strictly construed against the party that is not seeking to rely on them.

A breach of a minor term will not discharge a contract,but a major term that is broken in only a minor respect will discharge a contract.

Between the time when a contract is formed and the date of performance,a promisee is entitled to

Buildco Limited enters into a contract that has an exemption clause.Buildco's employees,during the course of constructing the home of Jack,fail to exercise care,as a result of which the home is damaged and Buildco is liable to Jack.Will Buildco be able to rely on the exemption clause?

General damages are

The failure of an innocent party to take steps to reduce the loss arising from a breach of contract is of no consequence at all.

Law, society, and Business

The Machinery of Justice

Government Regulation of Business

The Law of Torts

Professional Liability: the Legal Challenges

Formation of a Contract: Offer and Acceptance

Formation of a Contract: Consideration and Intention

Formation of a Contract: Capacity to Contract and Legality of Object

Grounds Upon Which a Contract May Be Set Aside: Mistake and Misrepresentation

Writing and Interpretation

Privity of Contract and the Assignment of Contractual Rights

The Discharge of Contracts

Sale of Goods and Consumer Contracts

Bailment and Leasing

Insurance and Guarantee

Agency and Franchising

The Contract of Employment

Negotiable Instruments

Intellectual Property

Interests in Land and Their Transfer

Landlord and Tenant

Mortgages of Land and Real Estate Transactions

Sole Proprietorships and Partnerships

The Nature of a Corporation and Its Formation

Corporate Governance: the Internal Affairs of Corporations

Corporate Governance: External Responsibilities

Secured Transactions

Creditors Rights

International Business Transactions

Electronic Commerce

Privacy

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Exam 13: Breach of Contract and Its Remedies

A liquidated damages clause will not always be effective.Explain.

Exemption clauses are generally strictly construed against the party that is not seeking to rely on them.

A breach of a minor term will not discharge a contract,but a major term that is broken in only a minor respect will discharge a contract.

Between the time when a contract is formed and the date of performance,a promisee is entitled to

Buildco Limited enters into a contract that has an exemption clause.Buildco's employees,during the course of constructing the home of Jack,fail to exercise care,as a result of which the home is damaged and Buildco is liable to Jack.Will Buildco be able to rely on the exemption clause?

General damages are

The failure of an innocent party to take steps to reduce the loss arising from a breach of contract is of no consequence at all.

Law, society, and Business

The Machinery of Justice

Government Regulation of Business

The Law of Torts

Professional Liability: the Legal Challenges

Formation of a Contract: Offer and Acceptance

Formation of a Contract: Consideration and Intention

Formation of a Contract: Capacity to Contract and Legality of Object

Grounds Upon Which a Contract May Be Set Aside: Mistake and Misrepresentation

Writing and Interpretation

Privity of Contract and the Assignment of Contractual Rights

The Discharge of Contracts

Sale of Goods and Consumer Contracts

Bailment and Leasing

Insurance and Guarantee

Agency and Franchising

The Contract of Employment

Negotiable Instruments

Intellectual Property

Interests in Land and Their Transfer

Landlord and Tenant

Mortgages of Land and Real Estate Transactions

Sole Proprietorships and Partnerships

The Nature of a Corporation and Its Formation

Corporate Governance: the Internal Affairs of Corporations

Corporate Governance: External Responsibilities

Secured Transactions

Creditors Rights

International Business Transactions

Electronic Commerce

Privacy

Filters