Exam 18: Contract Remedies

Garrett ordered 100 pieces of 2 × 6 lumber from his supplier and paid upon delivery. Later, when he unpacked the lumber, he discovered that the supplier had delivered 2 × 4 lumber. After being notified, the supplier picked up the lumber, apologized, and gave Garrett his money back. The response the supplier made to rectify the breach is:

Miller made a contract to sell his condominium to Jefferson for $80,000. Two days later Miller changed his mind after discovering that he could have sold the property to another buyer for an additional $20,000. Jefferson sues and asks the court to have the property conveyed to him at the price of $80,000. Jefferson is seeking:

Costs incurred to acquire a nondelivered performance from some other source are consequential damages.

A liquidated damage is a provision by which the parties agree in advance to the damages to be paid in the event of breach.

Delay will have no effect on the power of avoidance.

A power of avoidance held by a party may be lost if:

If Jana, a minor, transfers property to Scott and Scott sells the property to a good faith purchaser for value before Jana avoids the transfer:

What interests of an injured party are protected by contract remedies?