Exam 10: Contract Performance, Breach, and Remedies

Refer to Fact Pattern 10-1. If Belle Vista breaches the contract, Ambrose's remedy would most likely be​

Contracts that are executory on both sides can be rescinded by agreement.

Joy and Kris enter into a contract for Kris to lay sod in Joy's yard for which she agrees to pay Kris. When Kris's schedule conflicts, she contacts Leza, to whom Kris "assigns all rights under the contract." Kris is​

The most common way to discharge one's contractual duties is by breach of contract.

Punitive damages are generally not awarded in an action for breach of contract.

Ed's Electric substantially performs its contract with Forest Hills Apartments, Inc., to deliver and install an alarm system and parking lot lighting. Forest Hills is entitled to

Gliding Light, LLC, and Hang Gliders, Inc., are parties to a contract. They subsequently agree that High Riders Inc. should take Gliding Light's place and assume all of its rights and duties under the contract. This is​

Rough Hewn Lumber Company orally contracts with Joe for the purchase of five acres of Joe's timberland. Joe makes the transfer but Rough Hewn does not pay the price. The lack of a written contract could bar enforcement of this deal. If so, Joe could most likely recover on a theory of​

After a contract is made, a supervening event may make performance impossible and discharge the contract.

​An assignee has a right to demand performance from the obligor.

A party seeking to recover in quasi contract must show that the other party has been unjustly enriched.

Sati contracts to work exclusively for Thermal Imaging Company during July for $5,000. On June 30, Thermal Imaging cancels the contract. Sati finds a similar job for the month of July but earns only $3,000. Sati files a suit against Thermal Imaging. As compensatory damages, Sati can recover​

Guido and Hal want to rescind their contract under which Guido sold Hal a mountain bike for $100. To rescind the contract​

A novation requires the existence of a previous, valid obligation.

Excavate n' Fill, Inc., enters into a contract with Fred to fill and landscape an abandoned quarry on Fred's land. Fred advances Excavate n' Fill 10 percent of its cost. The parties rescind the contract. Excavate n' Fill's refund of the payment is​

​Kali contracts to sell Levon her car for $3,000. This contract will be fully discharged when Kali and Levon

Oxley contracts to buy a pizza oven from Restaurant Supplies Warehouse (RSW) for $2,500, but RSW fails to deliver. Oxley buys the appliance else-where for $3,500. Oxley's measure of damages is​

A liquidated damages provision specifies that a certain amount is to be paid by a breaching party when damages are difficult to determine.

In a contract for a sale of goods, the usual measure of compensatory damages is the difference between the retail price and the wholesale price.

All rights can be assigned with no exceptions.