Question 1

When both an owner and a contractor breach a construction contract, a court will attempt to strike a fair balance in awarding damages.

Accepted Answer

A) True 
 B)False

Question 2

A contract for a sale of land from Beachfront Properties Inc. to City Development Corporation contains an erroneous legal description. The appropriate remedy for these parties is most likely

Accepted Answer

A)   damages.
B)   reformation.
C)   a quasi contract.
D)   specific performance.E) A) and D)
F) A) and C)

Question 3

A liquidated damages provision specifies an amount to be paid in the event of a future default or breach of contract.

Accepted Answer

A) True 
 B)False

Question 4

The terms of a contract must be sufficiently definite for a court to determine the amount of damages to award.

Accepted Answer

A) True 
 B)False

Question 5

Expenses incurred because of a breach of contract to obtain performance from another source are not recoverable in a suit for breach.

Accepted Answer

A) True 
 B)False

Question 6

Shuster's lease of retail premises from Thurgood requires Shuster to pay certain fees, subject to the landlord's proof of the correct amount. Thurgood overcharges Shuster for the fees, without explanation. Most likely, the tenant can rescind the lease

Accepted Answer

A)   after paying the overcharge.
B)   by finding a new tenant for the premises.
C)   with prompt notice.
D)   under no circumstances.E) All of the above
F) A) and C)

Question 7

In contract law, damages compensate for harm suffered as a result of another's wrongful act, not for the loss of a bargain.

Accepted Answer

A) True 
 B)False

Question 8

The breach of a contract for a sale of goods qualifies for specific performance when substantially identical goods can be bought or sold in the market.

Accepted Answer

A) True 
 B)False

Question 9

Normally, a court will not award damages unless the appropriate equitable remedy is inadequate.

Accepted Answer

A) True 
 B)False

Question 10

The standard measure of compensatory damages is the value of the breaching party's actual performance.

Accepted Answer

A) True 
 B)False

Question 11

A limitation-of-liability clause in a contract limits the period of time within which an action for breach can be brought.

Accepted Answer

A) True 
 B)False

Question 12

Steel Mill Inc. agrees to deliver a certain quantity of steel to T-Bar Framing Corporation. The agreement states that delivery is to be within "9" days, although the parties intend "90" days. The seller cannot convince the buyer to amend the contract. The most appropriate remedy is most likely

Accepted Answer

A)   a quasi contract.
B)   reformation.
C)   rescission.
D)   specific performance.E) None of the above
F) A) and D)

Exam 17: Breach and Remedies

In contract law, damages compensate for harm suffered as a result of another's wrongful act, not for the loss of a bargain.

Correct Answer
verified

A contract for a sale of land from Beachfront Properties Inc. to City Development Corporation contains an erroneous legal description. The appropriate remedy for these parties is most likely

Correct Answer
verified

The terms of a contract must be sufficiently definite for a court to determine the amount of damages to award.

Correct Answer
verified

The breach of a contract for a sale of goods qualifies for specific performance when substantially identical goods can be bought or sold in the market.

Correct Answer
verified

The standard measure of compensatory damages is the value of the breaching party's actual performance.

Correct Answer
verified

Shuster's lease of retail premises from Thurgood requires Shuster to pay certain fees, subject to the landlord's proof of the correct amount. Thurgood overcharges Shuster for the fees, without explanation. Most likely, the tenant can rescind the lease

Correct Answer
verified

Expenses incurred because of a breach of contract to obtain performance from another source are not recoverable in a suit for breach.

Correct Answer
verified

A limitation-of-liability clause in a contract limits the period of time within which an action for breach can be brought.

Correct Answer
verified

Normally, a court will not award damages unless the appropriate equitable remedy is inadequate.

Correct Answer
verified

Steel Mill Inc. agrees to deliver a certain quantity of steel to T-Bar Framing Corporation. The agreement states that delivery is to be within "9" days, although the parties intend "90" days. The seller cannot convince the buyer to amend the contract. The most appropriate remedy is most likely

Correct Answer
verified

A liquidated damages provision specifies an amount to be paid in the event of a future default or breach of contract.

Correct Answer
verified

When both an owner and a contractor breach a construction contract, a court will attempt to strike a fair balance in awarding damages.

Correct Answer
verified

Exam 17: Breach and Remedies

In contract law, damages compensate for harm suffered as a result of another's wrongful act, not for the loss of a bargain.

Correct AnswerverifiedShow Answer

A contract for a sale of land from Beachfront Properties Inc. to City Development Corporation contains an erroneous legal description. The appropriate remedy for these parties is most likely

Correct AnswerverifiedShow Answer

The terms of a contract must be sufficiently definite for a court to determine the amount of damages to award.

Correct AnswerverifiedShow Answer

The breach of a contract for a sale of goods qualifies for specific performance when substantially identical goods can be bought or sold in the market.

Correct AnswerverifiedShow Answer

The standard measure of compensatory damages is the value of the breaching party's actual performance.

Correct AnswerverifiedShow Answer

Shuster's lease of retail premises from Thurgood requires Shuster to pay certain fees, subject to the landlord's proof of the correct amount. Thurgood overcharges Shuster for the fees, without explanation. Most likely, the tenant can rescind the lease

Correct AnswerverifiedShow Answer

Expenses incurred because of a breach of contract to obtain performance from another source are not recoverable in a suit for breach.

Correct AnswerverifiedShow Answer

A limitation-of-liability clause in a contract limits the period of time within which an action for breach can be brought.

Correct AnswerverifiedShow Answer

Normally, a court will not award damages unless the appropriate equitable remedy is inadequate.

Correct AnswerverifiedShow Answer

Steel Mill Inc. agrees to deliver a certain quantity of steel to T-Bar Framing Corporation. The agreement states that delivery is to be within "9" days, although the parties intend "90" days. The seller cannot convince the buyer to amend the contract. The most appropriate remedy is most likely

Correct AnswerverifiedShow Answer

A liquidated damages provision specifies an amount to be paid in the event of a future default or breach of contract.

Correct AnswerverifiedShow Answer

When both an owner and a contractor breach a construction contract, a court will attempt to strike a fair balance in awarding damages.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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