Exam 18: Performance and Remedies

Nina has breached a contract between Milo and her,but not so materially.This means that Milo can:

In the eyes of law,breach of any contract is of equal seriousness.

Damages associated with the real harm that a plaintiff in a contract case suffered is referred to as punitive damages.

What is an injunction?

Sklar,CPA,purchased from Wiz Corp.two computers.Sklar discovered material defects in the computers 10 months after taking delivery.Three years after discovering the defects,Sklar commenced an action for breach of warranty against Wiz.Wiz has raised the statute of limitations as a defense.The original contract between Wiz and Sklar contained a conspicuous clause providing that the statute of limitations for breach of warranty actions would be limited to 18 months.Under the circumstances,Sklar will:

Landlord has leased the property to the tenant.Tenant has to pay $5 as a late charge for the late payment of rent.Tenant pays his rent late for five month,but landlord accepts it without objection.Can landlord afterward recover the late charges?

Richard contracts with Yuan to buy Yuan's house for $100,000 "unless my horse does not win the Kentucky Derby." This is a condition subsequent,or at least an attempted condition subsequent.Rephrase it as a condition precedent with the same effect.If you can do this,why does the law bother to distinguish conditions precedent from conditions subsequent?

In general,an employee who has been fired and who wants to sue for breach of contract need not do anything to limit or mitigate his damages,such as looking for another job.This would unfairly benefit an employer who has wrongfully breached a contract.

Arthur and Brian have entered into a contract with an enforceable liquidated damages provision that states that Ben's recovery will be $10,000 in the event of Arthur's breach.Arthur breaches the contract.Ben loses $50,000 in consequential damages as a result.Ben's recovery is limited to $10,000.

What is the term for a condition that is specified in the contract?

If Grant promises to sell his regular season football tickets to Carson on condition that Indiana University wins the Rose Bowl,Indiana's winning the Rose Bowl is an express condition of Grant's duty to sell the tickets.

Which of the following circumstances is a valid reason for the delay of a lawsuit once the statutory period is over?

A condition subsequent cannot be a valid reason for the discharge of a duty.

The equitable remedy of specific performance is most likely to be awarded by a court in which of the following circumstances?

Which form of damages is intended to give the victim of the breach of contract the "benefit of the bargain"?

Winston contracts to sell a plot of land called Blackacre to Paris for $500,000.Winston breaches the contract and Paris sues him.Blackacre's reasonable market value at the time of the breach was $525,000.Paris can recover:

Paul contracts to sell his home to Dee for $100,000.The sale,which was negotiated by a broker for two parties who never met,was set to close on September 1.On July 15,Paul discovers the identity of the buyer,and immediately writes Dee to tell him that there's no way he'll ever sell his house to "some hippy." Must Dee wait until September 1 to sue Paul for breach of contract?

Andy contracts with Yvonne to produce an advertisement for a Fourth-of-July fundraising party.Yvonne does not produce the advertisement until July 6.Here,Yvonne's breach of the contract is not a material breach unless the contract explicitly stated that time is of the essence.

Price signed a contract to sell Wyatt a parcel of land for $90,000.The entire sales price was payable at the closing.Price has decided to keep the land.If Wyatt commences an action against Price,what relief is Wyatt most likely to receive?

Mike contracts with Bob to purchase Bob's boat.Mike promises to pay Bob $5,000 upon delivery of the boat to Mike's beach house.Bob arrives at Mike's house without the boat,and demands full payment before the boat is to be delivered.Is Mike obligated to pay Bob the money? Why or why not?