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Business Law 12th Edition by Roger LeRoy Miller ,Frank Cross
Edition 12ISBN: 978-1111530594Business Law 12th Edition by Roger LeRoy Miller ,Frank Cross
Edition 12ISBN: 978-1111530594 Exercise 2
Remedies Assume that Arthur Rabe is suing Xavier Sanchez for breaching a contract in which Sanchez promised to sell Rabe a painting by Vincent van Gogh for $3 million.
(a) In this lawsuit, who is the plaintiff and who is the defendant?
(b) Suppose that Rabe wants Sanchez to perform the contract as promised. What remedy would Rabe seek from the court?
(c) Now suppose that Rabe wants to cancel the contract because Sanchez fraudulently misrepresented the painting as an original Van Gogh when in fact it is a copy. What remedy would Rabe seek?
(d) Will the remedy Rabe seeks in either situation be a remedy at law or a remedy in equity? What is the difference between legal and equitable remedies?
(e) Suppose that the trial court finds in Rabe's favor and grants one of these remedies. Sanchez then appeals the decision to a higher court. On appeal, which party will be the appellant (or petitioner), and which party will be the appellee (or respondent)?
(a) In this lawsuit, who is the plaintiff and who is the defendant?
(b) Suppose that Rabe wants Sanchez to perform the contract as promised. What remedy would Rabe seek from the court?
(c) Now suppose that Rabe wants to cancel the contract because Sanchez fraudulently misrepresented the painting as an original Van Gogh when in fact it is a copy. What remedy would Rabe seek?
(d) Will the remedy Rabe seeks in either situation be a remedy at law or a remedy in equity? What is the difference between legal and equitable remedies?
(e) Suppose that the trial court finds in Rabe's favor and grants one of these remedies. Sanchez then appeals the decision to a higher court. On appeal, which party will be the appellant (or petitioner), and which party will be the appellee (or respondent)?
Explanation
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Remedies:
a). The suing party is called the plaintiff. The party being sued is the defendant. Therefore, since R wants to sue S, R is the plaintiff and S is the defendant.
b). R wants S to perform the agreement as promised; this is also called specific performance.
c). R wants the contract to be cancelled. Thus, R would ask the court for a rescission, which is the cancellation of a contractual obligation.
d). The term remedies refers to a legal means to enforce a right or redress a wrong. Remedies at law include land, items of value, or money. Remedies in equity, or equitable remedies, include specific performance, an injunction, and rescission. Specific performance requires that both parties perform the terms of the agreement. An injunction requires that a party stop the behavior that is creating the cause of action. Rescission is when a contract is completely cancelled. Thus, both remedies in part b) and c) are remedies in equity.
e). The party appealing a case is called the appellant or petitioner. The appellee or respondent is the party against whom the appeal is taken. So S would be the appellant and R would be the respondent.
a). The suing party is called the plaintiff. The party being sued is the defendant. Therefore, since R wants to sue S, R is the plaintiff and S is the defendant.
b). R wants S to perform the agreement as promised; this is also called specific performance.
c). R wants the contract to be cancelled. Thus, R would ask the court for a rescission, which is the cancellation of a contractual obligation.
d). The term remedies refers to a legal means to enforce a right or redress a wrong. Remedies at law include land, items of value, or money. Remedies in equity, or equitable remedies, include specific performance, an injunction, and rescission. Specific performance requires that both parties perform the terms of the agreement. An injunction requires that a party stop the behavior that is creating the cause of action. Rescission is when a contract is completely cancelled. Thus, both remedies in part b) and c) are remedies in equity.
e). The party appealing a case is called the appellant or petitioner. The appellee or respondent is the party against whom the appeal is taken. So S would be the appellant and R would be the respondent.
Business Law 12th Edition by Roger LeRoy Miller ,Frank Cross
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