Exam 19: Breach of Contract and Remedies

Consequential damages may be recovered if:

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

When a party waives compliance with one provision of a contract, the other party may thereafter ignore other provisions of that contract.

If one of the parties retains money or a legal benefit in a breach of contract, that person is obligated to make restitution to the person conferring the benefit.

Cyril made two contracts.The first was to have his house painted one month from the date of the written contract.The second was for his neighbor's 1957 Ford Thunderbird.Each contract was definite and clear in all respects.As to the house painting, Cyril inquired with the painter as to when the work could begin.The painter explained that he was extremely busy and was not sure if he could fulfill the contract.Cyril flew into a rage and immediately hired someone else who painted the house, but at a higher price.Cyril then sued the painter, claiming that there was an anticipatory repudiation of the contract by the painter.?With regard to the automobile purchase contract, after signing the contract, the neighbor decided that she did not wish to sell her car and refused to complete the transaction.Cyril attempted to purchase a similar car elsewhere, but the car was a vintage automobile which was not available on the open market.Cyril sued the neighbor for specific performance of the contract.Discuss the probable outcomes of the lawsuits.

Between experienced businesspersons, exculpatory clauses are generally:

The party that breaks a contract may be required to pay damages to the other party to compensate for:

When a written contract does not correctly state the agreement already made but the parties either party make seek a(n):

An innocent party to an anticipatory repudiation of a contract has the right to treat the repudiation as a present, material breach and may file suit.

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

A waiver is based on the subjective opinion of the innocent party.

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

An antimodification clause specifies that a waiver to any breach automatically modifies the contract.

Beth Roberts purchased a "new" car from Honest John's Car Lot six months ago.The sales agreement expressly described the vehicle as a new car, and all usual factory papers accompanied the sale.However, Beth discovered that the car actually was acquired by Honest John's from another dealer who had used it as a demonstrator and loaned it to business friends on a regular basis.The car had more than 10,000 miles on it, a fact that had been concealed by turning back the odometer.Beth also discovered that Honest John's apparently had engaged in this practice before.Beth is suing for breach of contract.She is asking for compensatory damages equal to the difference between the new car price she paid and the average price the vehicle would have brought as a used car.In addition, she is asking for damages in the amount of $5,000.Honest John's attorney has told Beth that she will fight both claims and has advised Beth that the court will not award $5,000 as punitive damages for such a suit.What do you think?

Damages in excess of actual loss are called:

An action for injunctive relief may be granted:

Punitive damages are generally recoverable in contract actions.

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

The normal remedy for breach of contract where the plaintiff has suffered a loss is nominal damages.

The failure to act or perform in the manner called for by a contract is a: