Exam 15: Contract Performance, Breach, and Remedies

Juan and Isidro enter into a contract to buy, restore, and reopen the Coastal Park Carousel.Before either party begins to perform, they agree to cancel their deal.This is

When damages are an inadequate remedy for a breach of contract, a court may consider an equitable remedy.

Performance can be accomplished by tender.

Only a mistake in value will make a contract voidable.

Jane and Kelly want Lucy to replace Kelly as a party to their contract.They can best accomplish this by

Lester and Myrtle want to rescind their contract under which Lester sold an MP3 player for $40.To rescind the contract

GroundSwell Pools, Inc., agrees to build a swimming pool for Francis, but fails to complete the job.Francis hires EquiAqua, Inc., to finish the project.Francis may recover from GroundSwell

Misrepresentation of a material fact can occur by actions alone.

Red's Plumbing Service substantially performs its contract with Shady Grove Condominiums, Inc.Shady Grove is entitled to

National Drilling Company ships its only pump to American Hydraulics Corporation, the manufacturer, for repair.National hires Overland Transport, Inc., to take the pump to American Hydraulics and to return it to National as soon as the repair is complete.National is forced to suspend operations without a pump, but Overland does not know this.National expects to be without the pump for five days and to lose profits of $5,000.When the pump is not returned by the end of the fifth day, National rents a pump at a cost of $100 per day.Overland delays five more days before returning the pump.National files a suit against Overland, asking for compensatory and consequential damages.Will National recover

Under the Statute of Frauds, all contracts must be in writing to be enforceable.