Exam 20: Breach of Contract and Remedies

If a liquidated damages clause demands an unusually large sum that is not related to reasonably-anticipated actual damages,the clause will be held to be void as a(n):

The remedy of specific performance will most likely be granted in the case of a(n):

When one party has broken a contract,there are several remedies available to the non-breaching party,including:

If a plaintiff seeking damages in a breach of contract action receives $1 in damages,the damages would most likely be classified as:

The "American rule" states that the losing party in a lawsuit is responsible for all attorney fees.

Ordinarily contracts for the performance of personal services are specifically ordered.

When one party commits a non-material breach of contract,the other party may rescind the contract.

If monetary damages would be an adequate remedy,then an action for specific performance is not appropriate.

When a party expressly declares before the time for performance arrives that the contract will not be performed,such a declaration is called an anticipatory repudiation.

An anticipatory repudiation must be clear,absolute,and unequivocal.

If a seller delivers defective goods,the buyer does not lose the right to object to the breach of contract if the buyer:

If a plaintiff's loss involves damaged property,it is described as liquidated damages.

Punitive damages are generally recoverable in contract actions.

Only direct losses from a breach of contract may be recovered by an injured party.

Which is not a correct statement concerning rescission of a contract?

If one party to a contract breaks the contract,the other party generally is under a duty to stop any further performance to avoid sustaining greater damages.

The rule of mitigation of damages requires that a party injured by a breach of contract must:

Consequential damages may not be recovered,even if they were within the contemplation of the parties at the time of contracting.

If there is a breach of contract,the law requires that the other party terminate the contract and bring a lawsuit.

The damages that are typically recoverable when a contract has been breached and one party has suffered loss are called: