Exam 14: The Termination of Contracts: Breach of Contract

Failure to perform one's duty under a contract is

A(n) ____________________ is a court order that forbids a person from doing a certain act.

Money damages are intended to place the injured party in the same position he or she would have been in if the contract had been carried out.

A material breach of contract discharges the contract.

Damages awarded for an actual loss or injury are called liquidated damages.

Rescission of a contract is generally a voluntary act by the parties.

What are the four elements that must exist to prove fraud?

Money damages are the usual remedy for a breach of contract.

Mistakes about a contract may be either unilateral or mutual.

Specific performance may be granted when money damages do not fairly compensate for a loss.

As soon as a breach occurs, the victim has a duty to

Mintz sued Jacobs for breach of contract. The court awarded Mintz $1 as damages. This amount is known as

Jameson and French entered into a contract in which Jameson was required to deliver merchandise to French by January 19. On January 5, Jameson told French that he (Jameson) had no intention of delivering the merchandise required by the contract. Prior to January 19, French may successfully sue Jameson for

Reber hurriedly signed a form that he assumed was a request for a sample copy of a set of encyclopedias, valued at $57.50. Later, it developed that he had actually signed an order for the complete set, valued at $575. When the set was delivered, Reber refused to accept it and claimed he was not bound by the agreement because of the mistake. Was Reber legally bound by the agreement?

Under what circumstances can an injured party seek compensation in the form of (a) compensatory damages and (b) consequential damages?

Pilati signed a contract to work as a consulting engineer for the Radtech Company beginning January 1. When Pilati reported to work on January 1, he was told that the position of consulting engineer had been abolished but that he could have a job in the marketing department. He refused. His contract with the company is discharged because of a(n)

A victim of a breach of contract will be granted specific performance in a contract to

Equitable remedies are usually allowed by courts

Defenses are the reasons offered by a defendant that release her or him from liability or responsibility.

The voluntary mutual surrender and discharge of each party's contractual rights under a contract is called ____________________.