Question 1

When an injured party is required to elect remedies, which of the following would be mutually exclusive?

Accepted Answer

A) Restitution and liquidated damages 
B) Specific performance and compensation for incidental damages 
C) Specific performance and restitution 
D) Incidental and consequential damages 
A) Restitution and liquidated damages 
B) Specific performance and compensation for incidental damages 
C) Specific performance and restitution 
D) Incidental and consequential damages

Question 2

Equitable remedies will not be granted where:

Accepted Answer

A) the terms of the contract are fair. 
B) the consideration is adequate. 
C) the terms of the contract are sufficiently certain. 
D) the contract is tainted with fraud, duress, undue influence, mistake, or unfair practices. 
A) the terms of the contract are fair. 
B) the consideration is adequate. 
C) the terms of the contract are sufficiently certain. 
D) the contract is tainted with fraud, duress, undue influence, mistake, or unfair practices.

Question 3

In which of the following situations is restitution available as a remedy?

Accepted Answer

A) As an alternative remedy for a party injured by breach 
B) For a party in default 
C) For a party who may not enforce the contract because of the statute of frauds 
D) All of these are situations where restitution is available. 
A) As an alternative remedy for a party injured by breach 
B) For a party in default 
C) For a party who may not enforce the contract because of the statute of frauds 
D) All of these are situations where restitution is available.

Question 4

Damages for reliance include expenses for:

Accepted Answer

A) lost profits. 
B) injury to the person. 
C) preparing to perform. 
D) punishment of the breaching party. 
A) lost profits. 
B) injury to the person. 
C) preparing to perform. 
D) punishment of the breaching party.

Question 5

Compensatory damages are intended to protect the injured party's expectation interest.

Accepted Answer

A) True 
 B)False

Question 6

Under the rule in Hadley v.Baxendale, only foreseeable damages can be recovered.

Accepted Answer

A) True 
 B)False

Exam 18: Contract Remedies

When an injured party is required to elect remedies, which of the following would be mutually exclusive?

Equitable remedies will not be granted where:

In which of the following situations is restitution available as a remedy?

Damages for reliance include expenses for:

Compensatory damages are intended to protect the injured party's expectation interest.

Under the rule in Hadley v.Baxendale, only foreseeable damages can be recovered.

Introduction to Law

Business Ethics and the Social Responsibility of Business

Civil Dispute Resolution

Constitutional Law

Administrative Law

Criminal Law

Intentional Torts

Negligence and Strict Liability

Introduction to Contracts

Mutual Assent

Conduct Invalidating Assent

Consideration

Illegal Bargains

Contractual Capacity

Contracts in Writing

Third Parties to Contracts

Performance, Breach, and Discharge

Relationship of Principal and Agent

Relationship With Third Parties

Introduction to Sales and Leases

Performance

Transfer of Title and Risk of Loss

Products Liability: Warranties and Strict Liability in Tort

Sales Remedies

Form and Content

Transfer and Holder in Due Course

Liability of Parties

Bank Deposits, Collections, and Funds Transfers

Formation and Internal Relations of General Partnerships

Operation and Dissolution of General Partnerships

Limited Partnerships and Limited Liability Companies

Nature, Formation, and Powers

Financial Structure

Management Structure

Fundamental Changes

Secured Transactions and Suretyship

Bankruptcy

Protection of Intellectual Property

Antitrust

Consumer Protection

Employment Law

Securities Regulation

Accountants Legal Liability

Environmental Law

International Business Law

Introduction to Property, Property Insurance, Bailments, and Documents of Title

Interests in Real Property

Transfer and Control of Real Property

Trusts and Decedents Estates

51: The Legal Environment Of Business

52: Contracts.

53: Agency.

54: Sales

55: Negotiable Instruments

56: Unincorporated Business Association

57: Corporations

58: Debtor and Creditor Relation

59: Regulation of Business

60: Property.

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