Deck 13: Contracts in Writing and Third-Party Contracts

Question 1

Japanese law prohibits agreements relating to liquidated damages.

Answer 1

False
Explanation: Japanese law provides for liquidated damages, similar to those available in the United States.

Question 2

Rewriting a contract to reflect what the parties had agreed on is referred to as rescission.

Answer 2

False
Explanation: Reformation refers to rewriting a contract to reflect what the parties had agreed on.

Question 3

When an enforceable contract does not exist, the court may grant a recovery based on quasi-contract in order to prevent an injustice from occurring.

Answer 3

True
Explanation: When an enforceable contract does not in fact exist, the court may grant a recovery based on quasi-contract; that is, the court may impose a contract-like obligation on a party to prevent an injustice from occurring.

Question 4

Residential property but not commercial property is considered unique.

Question 5

A condition ______________ is a future event that terminates the obligations of the parties when it occurs.

A) Precedent
B) Subsequent
C) Concurrent
D) At large
E) Certain

Question 6

Under ordinary circumstances, a party's duty to perform the promise agreed to in a contract is absolute.

Question 7

The discharge by parties of their obligations by doing what they respectively agreed to do under the terms of the contract is called ______________.

A) Discharge by tender
B) Discharge by performance
C) Discharge by finishing
D) Discharge by absolution
E) Discharge by reason

Question 8

By which of the following may a party's contractual obligations be terminated?

A) Performance
B) The failure of a condition to occur
C) Operation of law
D) By performance, the failure of a condition to occur, and operation of law
E) Performance and the failure of a condition to occur, but not operation of law

Question 9

Which of the following are types of conditions?

A) Precedent
B) Subsequent
C) Concurrent
D) Precedent, subsequent, and concurrent
E) Precedent and subsequent, but not concurrent

Question 10

Rescission is the return of any property given up under the contract.

Question 11

The most frequently awarded damages are compensatory damages.

Question 12

Contracts containing conditions affecting the performance obligations of the parties are called ______________ contracts.

A) Uncertain
B) Conditional
C) Unreasonable
D) Voidable
E) Void

Question 13

Which of the following describes conditions explicitly stated in the contract?

A) Express
B) Definite
C) Conditional
D) Concurrent
E) Both express and conditional

Question 14

When a party's obligations under a contract are terminated, the party is said to be ______________.

A) Finished
B) Terminated
C) Completed
D) Discharged
E) Recoursed

Question 15

Contractual conditions may be expressly inserted into the contract by the parties but may not be implied.

Question 16

Which of the following conditions occur when each party's performance is conditioned on the performance of the other?

A) Precedent
B) Subsequent
C) Concurrent
D) At large
E) Certain

Question 17

Specific performance is an order requiring that the breaching party fulfill the terms of the agreement.

Question 18

Which of the following describes conditions that are not explicitly stated but are inferred from the nature and language of the contract?

A) Express
B) Implied
C) Conditional
D) Concurrent
E) Both express and conditional

Question 19

Liquidated damages will be enforced based upon the free-will concept of contracts even if the liquidated damages amount is unreasonable.

Question 20

A condition ______________ is a particular event that must occur in order for a party's duty to arise.

A) Precedent
B) Subsequent
C) Concurrent
D) At large
E) Certain

Question 21

Which of the following occurs when a contracting party refuses to complete the contract before the actual time of performance?

A) Preemptive repudiation
B) Anticipatory repudiation
C) Advance refusal
D) Advance repudiation
E) Preparatory refusal

Question 22

A ____________ occurs whenever a party fails to perform her obligations under the contract.

A) Mishap
B) Misoccurrence
C) Breach
D) Misdeed
E) Mistake

Question 23

Which of the following occurs when all aspects of the parties' duties under the contract are carried out perfectly?

A) Complete performance
B) Substantial performance
C) Significant performance
D) Absolute performance
E) Approved performance

Question 24

Which of the following occurs when, instead of canceling a contract, the parties substitute a new agreement in place of the original?

A) Accord and satisfaction
B) Novation
C) Substituted contract
D) Mutual rescission
E) Alteration

Question 25

A contractual condition of satisfaction may be judged by either a[n] ______________ or ______________ standard depending on the issue involved.

A) Objective; express
B) Subjective; express
C) Objective; absolute
D) Absolute; express
E) Objective; subjective

Question 26

A contractual condition of satisfaction is considered a[n] ______________ condition that must be met before the other party's obligation to pay for the performance arises.

A) Partial
B) Conditional
C) Express
D) Implied
E) Partial and express

Question 27

A[n] _____________ discharges the nonbreaching party from his obligations under the contract.

A) Immaterial breach
B) Substantial breach
C) Material breach
D) Delineated breach
E) Crossed breach

Question 28

Which of the following is used as a basis for discharge by operation of law when performance is still objectively possible but would be extraordinarily injurious or expensive to one party?

A) Frustration of purpose
B) Commercial impracticability
C) Alteration of the contract
D) Anticipatory repudiation
E) None of these because there is no such concept.

Question 29

Which of the following are foreseeable damages within the contemplation of the parties at the time the breach occurs and that result from special facts and circumstances arising outside the contract itself?

A) Consequential
B) Punitive
C) Liquidated
D) Nominal
E) Repugnant

Question 30

Monetary damages are also referred to as ______________ damages.

A) Equitable
B) Fair
C) Public
D) Legal
E) Injunctive

Question 31

Which of the following occurs when parties agree that they simply wish to discharge each other from their mutual obligations and, therefore, rescind or cancel the contract?

A) Accord and satisfaction
B) Novation
C) Substituted contract
D) Mutual rescission
E) Alteration

Question 32

Which of the following are the two primary kinds of performance?

A) Partial and significant
B) Partial and complete
C) Partial and substantial
D) Complete and substantial
E) Complete and significant

Question 33

Which of the following damages are designed to put the plaintiff in the position he would have been in had the contract been fully performed?

A) Equitable
B) Compensatory
C) Deserved
D) Learned
E) Punitive

Question 34

Which of the following occurs when by agreement one of the parties substitutes a different performance for his original duty under the contract?

A) Accord and satisfaction
B) Novation
C) Substituted contract
D) Mutual rescission
E) Alteration

Question 35

An offer of performance by being ready, willing, and able to perform is known as ______________.

A) Offering
B) Showing
C) Tender
D) Completer
E) Implied acceptance

Question 36

Which of the following occurs when the parties to the agreement wish to replace one of the parties with a third party?

A) Accord and satisfaction
B) Novation
C) Substituted contract
D) Mutual rescission
E) Alteration

Question 37

Which of the following is a way in which a contract may be discharged by operation of law?

A) Alteration of the contract
B) Bankruptcy
C) Objective impossibility of performance
D) Alteration of the contract, bankruptcy, and objective impossibility of performance
E) Alteration of the contract and bankruptcy, but not objective impossibility of performance

Question 38

Which of the following occurs when a party unjustifiably fails to substantially perform his obligations under the contract?

A) Material breach
B) Substantial breach
C) Immaterial breach
D) Delineated breach
E) Crossed breach

Question 39

Which of the following arose from cases in England in which parties, who had contracted for rooms along a parade route for the king's coronation, received their money back when the coronation was canceled because the king became ill?

A) Frustration of purpose
B) Commercial impracticability
C) Alteration of the contract
D) Anticipatory repudiation
E) Anticipatory renunciation

Question 40

If a contract does not clearly specify that the satisfaction is to be personal, the ______________ standard applies.

A) Express
B) Subjective
C) Objective
D) Absolute
E) Unbiased

Question 41

Which of the following is an order either forcing a person to do something or prohibiting a person from doing something?

A) Specification
B) Directive
C) Instructional edict
D) Demand
E) Injunction

Question 42

Reference - Dream Home. Maurice finds a dream home on the lake. He wants to buy it but is unsure whether he can get a loan. He signs a contract with the seller that he will buy the home if he can get a loan. Maurice also includes a contractual clause into the contract with the seller that if the purchase goes through but he loses his job within one year, the seller will repurchase the house for the same price Maurice paid for it. After getting a loan and buying the home, Maurice decided that he wanted new windows put into the home. He entered into a contract with a window contractor. The window contractor visited the home, but Maurice was always gone. The contractor made several attempts to reach Maurice, but Maurice would not return phone calls and made no attempt to assist the contractor with installation. The provision that the seller will repurchase the home if Maurice loses his job within one year of the sale is referred to as which of the following?

A) A condition subsequent
B) A condition precedent
C) An implied condition
D) An express condition
E) Both a condition precedent and an express condition

Question 43

Reference - Creaky and Toady. Beverly decides to go on a great trip to Hawaii. She needs someone, however, to take care of her two dogs, Creaky and Toady, while she is gone. Creaky has hives, and Toady passes gas frequently because of a digestive problem. Beverly hires Frank three months in advance and they reach a contractual arrangement whereby he will be paid $200 for keeping the dogs for two weeks. Frank comes over two months before Beverly is set to leave, takes one look at Creaky and Toady, and declares that they are too creepy to be around. Beverly then hires Alice who agrees to care for Creaky and Toady. Two weeks before Beverly is set to leave, however, Alice calls and tells her that she just broke both her legs in an automobile accident, sustained other injuries, and has been put on bed rest for two months. Finally, Alice hires Betty to care for the dogs and heads off to Hawaii where she has a great time. Unfortunately, when Beverly returns home, she finds that Betty fell in love with Creaky and Toady and has absconded with them. It was a month before Beverly was able to get a court order requiring their return. Which of the following is true regarding Frank's refusal to keep Creaky and Toady?

A) He committed an anticipatory repudiation.
B) He is not guilty of any breach because he gave Beverly sufficient warning that he was not willing to perform.
C) He is not guilty of any breach because of the frustration of purpose doctrine.
D) He is guilty of an immaterial breach because of the low value of the contract.
E) He is guilty of a nominal breach.

Question 44

Which of the following was the result on appeal in Allstate Insurance Co. v. Herron, the case in the text in which the plaintiff sought a ruling as a matter of law that the defendant materially breached his contract of insurance by actions including confessing to a judgment, thereby relieving the insurer of its obligation to provide coverage?

A) That the defendant materially breached the contract of insurance by breaching the cooperation clause and that the breach, standing alone, relieved the insurer of its obligation to provide insurance coverage.
B) That an issue of fact remained as to whether the defendant's breach prejudiced the insurer, a requirement in order for the insurer to be relieved of its duty to provide coverage.
C) That the defendant materially breached the contract of insurance by breaching the cooperation clause and that, as a matter of law, the breach prejudiced the insurer thereby relieving the insurer of its obligation to provide insurance coverage.
D) That the defendant did not materially breach the contract of insurance and that an issue of fact existed as to any damages sustained by the insurer based upon the insubstantial breach of contract.
E) That the defendant did not breach the contract of insurance.

Question 45

Why did equitable remedies come into being?

A) To fashion remedies when the existing laws did not provide any adequate ones.
B) To supplement compensatory damages with punitive damages.
C) To provide a way by which to award nominal damages.
D) To provide a way by which to award consequential damages.
E) To provide a way by which to award certain parties liquidated damages.

Question 46

When no actual damages result from the breach of a contract, the court may award the plaintiff ______________ damages.

A) Consequential
B) Punitive
C) Liquidated
D) Nominal
E) None of these because no damages are available if no actual damages are incurred.

Question 47

From what country did equitable remedies as applied in the U.S. grow?

A) France
B) Italy
C) England
D) Spain
E) Portugal

Question 48

Which of the following is a type of damages that the parties specify in advance?

A) Consequential
B) Punitive
C) Liquidated
D) Nominal
E) Repugnant

Question 49

Reference - Powder Room Mess. For $300,000, Willis agrees to build a new home for Robert, who is very picky. Willis builds the home to Robert's specifications with one exception. The faucets and linoleum flooring in an upstairs powder room are not exactly what Robert specified. That was a mistake on Willis' part, but he had not intentionally failed to follow specifications. When Robert sees the powder room, he goes ballistic and tells Willis that he will not pay Willis anything for the house. It will take $300 to put in correct faucets and linoleum. Willis says that he is willing to pay $300 to put Robert in the position he would have been in had the correct faucets and linoleum been used, but that is all he is willing to pay. Willis' offer to put Robert in the position he would have been in had the proper faucets and linoleum been used is based on the measure used for what type of damages?

A) Nominal
B) Punitive
C) Compensatory
D) Liquidated
E) Consequential

Question 50

Which of the following types of damages are designed to punish the defendant and deter him and others from engaging in similar behavior in the future?

A) Consequential
B) Punitive
C) Liquidated
D) Nominal
E) Repugnant

Question 51

Under the UCC, when may orders for specific performance of a contract for the sale of goods be awarded?

A) Only when the goods are unique.
B) Only when the goods are in excess of 500 in quantity.
C) Only when the goods have been ordered at least six months in advance.
D) When the goods are unique and when the goods are in excess of 500 in quantity.
E) When the goods are unique or in other proper circumstances.

Question 52

College president Wally contracts with Alice to teach business law. Alice does a fine job teaching but gets mad at Wally and will not turn in grades. What type of order would Wally seek to require Alice to abide by her contract?

A) An order of specific performance
B) A compensatory order
C) A nominal order
D) A consequential order
E) A demand order

Question 53

Reference - Powder Room Mess. For $300,000, Willis agrees to build a new home for Robert, who is very picky. Willis builds the home to Robert's specifications with one exception. The faucets and linoleum flooring in an upstairs powder room are not exactly what Robert specified. That was a mistake on Willis' part, but he had not intentionally failed to follow specifications. When Robert sees the powder room, he goes ballistic and tells Willis that he will not pay Willis anything for the house. It will take $300 to put in correct faucets and linoleum. Willis says that he is willing to pay $300 to put Robert in the position he would have been in had the correct faucets and linoleum been used, but that is all he is willing to pay. Which of the following is true regarding whether Willis breached the contract?

A) Willis did not breach the contract.
B) Willis materially breached the contract.
C) Willis substantially breached the contract.
D) Willis breached the contract, but the breach was not material.
E) Willis committed an anticipatory breach of the contract.

Question 54

Reference - Dream Home. Maurice finds a dream home on the lake. He wants to buy it but is unsure whether he can get a loan. He signs a contract with the seller that he will buy the home if he can get a loan. Maurice also includes a contractual clause into the contract with the seller that if the purchase goes through but he loses his job within one year, the seller will repurchase the house for the same price Maurice paid for it. After getting a loan and buying the home, Maurice decided that he wanted new windows put into the home. He entered into a contract with a window contractor. The window contractor visited the home, but Maurice was always gone. The contractor made several attempts to reach Maurice, but Maurice would not return phone calls and made no attempt to assist the contractor with installation. The provision that Maurice did not have to buy the house unless he was able to get a loan is referred to as which of the following?

A) A condition subsequent
B) A condition precedent
C) An implied condition
D) An express condition
E) Both a condition precedent and an express condition

Question 55

Reference - Dream Home. Maurice finds a dream home on the lake. He wants to buy it but is unsure whether he can get a loan. He signs a contract with the seller that he will buy the home if he can get a loan. Maurice also includes a contractual clause into the contract with the seller that if the purchase goes through but he loses his job within one year, the seller will repurchase the house for the same price Maurice paid for it. After getting a loan and buying the home, Maurice decided that he wanted new windows put into the home. He entered into a contract with a window contractor. The window contractor visited the home, but Maurice was always gone. The contractor made several attempts to reach Maurice, but Maurice would not return phone calls and made no attempt to assist the contractor with installation. The responsibility of Maurice to make arrangements to give the window installer access to the home is referred to as which of the following?

A) A condition subsequent
B) A condition precedent
C) An implied condition
D) An express condition
E) Both a condition precedent and an express condition

Question 56

The obligation to use reasonable efforts to minimize damage resulting from a breach is referred as the duty to ______________ one's damages.

A) Reduce
B) Remit
C) Reform
D) Mitigate
E) None of these because there is no such obligation

Question 57

Reference - Powder Room Mess. For $300,000, Willis agrees to build a new home for Robert, who is very picky. Willis builds the home to Robert's specifications with one exception. The faucets and linoleum flooring in an upstairs powder room are not exactly what Robert specified. That was a mistake on Willis' part, but he had not intentionally failed to follow specifications. When Robert sees the powder room, he goes ballistic and tells Willis that he will not pay Willis anything for the house. It will take $300 to put in correct faucets and linoleum. Willis says that he is willing to pay $300 to put Robert in the position he would have been in had the correct faucets and linoleum been used, but that is all he is willing to pay. Which of the following is most likely true regarding Robert's entitlement to damages from Willis?

A) There are no damages because Willis did not breach the contract.
B) Robert will not have to pay for the house because Willis failed to substantially perform.
C) Even though Willis substantially performed, Robert will not have to pay for the house because Willis materially breached the contract.
D) Robert is released from paying for the house because of an anticipatory breach.
E) Any damages awarded would be in the range of $300, the amount it would take to fix the breach.

Question 58

Which of the following was the result in Thrifty Rent-A-Car System v. South Florida Transport, the case in the text in which in response to a claim for amounts due on a franchise agreement involving the rental of vehicles, the defendant claimed that hurricanes had rendered its rental car business commercially impracticable?

A) That a jury question existed as to whether the hurricanes made the business commercially impracticable.
B) That as a matter of law, the defense of commercial impracticability was unavailable to the defendant for reasons including that the absence of hurricanes was not a basic assumption of the agreement.
C) That as a matter of law, the defense of commercial impracticability was available to the defendant because the defendant established that it was current on its payments until the advent of the hurricane season.
D) That as a matter of law, the defense of commercial impracticability was available to the defendant because the defendant established that the hurricanes made the cost of performance of the terms of the agreement unduly burdensome.
E) That as a matter of law, the defense of commercial impracticability was available to the defendant because the plaintiff failed to establish that the defendant had been given sufficient opportunity to recover from its business interruption due to several hurricanes.

Question 59

______________ is the termination of the contract, and ______________ is the return of any property given up under the contract.

A) Rescission; restitution
B) Rescission; reformation
C) Reformation; restitution
D) Reformation; rescission
E) Rescission; compensation

Question 60

Which of the following was the result on appeal in the Case Opener, the case in which Sara Creek Property Company argued that an award of damages, rather than an injunction, was the appropriate remedy in response to its alleged breach of contract by allowing a new pharmacy to move into a shopping mall in competition with Walgreen's?

A) That specific performance, but not an injunction, was the appropriate remedy.
B) That an injunction, as well as damages, were appropriate remedies.
C) That damages, rather than an injunction, was the appropriate remedy because damages could be calculated.
D) That an injunction, rather than damages, was the appropriate remedy.
E) That the contract had not been breached and that neither an injunction nor damages were appropriate.

Question 61

Reference - Creaky and Toady. Beverly decides to go on a great trip to Hawaii. She needs someone, however, to take care of her two dogs, Creaky and Toady, while she is gone. Creaky has hives, and Toady passes gas frequently because of a digestive problem. Beverly hires Frank three months in advance and they reach a contractual arrangement whereby he will be paid $200 for keeping the dogs for two weeks. Frank comes over two months before Beverly is set to leave, takes one look at Creaky and Toady, and declares that they are too creepy to be around. Beverly then hires Alice who agrees to care for Creaky and Toady. Two weeks before Beverly is set to leave, however, Alice calls and tells her that she just broke both her legs in an automobile accident, sustained other injuries, and has been put on bed rest for two months. Finally, Alice hires Betty to care for the dogs and heads off to Hawaii where she has a great time. Unfortunately, when Beverly returns home, she finds that Betty fell in love with Creaky and Toady and has absconded with them. It was a month before Beverly was able to get a court order requiring their return. Which of the following would be an order from the court requiring that Betty return Creaky and Toady to Beverly?

A) An injunction
B) A conciliation
C) A mitigation
D) A directive
E) A specific

Question 62

Reference - Earthquake. Stewart, the owner of ABC Construction, agreed with Joan, the owner of XYZ Hotel that he would complete renovations on her upper scale hotel on the beach in Florida by October 1. The amount due to Stewart under the contract was $250,000. The contract contained a clause by which Stewart would pay Joan $50,000 for each day he was late on completing the project. Unfortunately, an unexpected strong earthquake shook the area; and while the earthquake did not damage the hotel itself, Stewart encountered significant difficulty in getting supplies due to the high demand for building material following the earthquake. Because he believed that traveling, himself, to other states to obtain supplies would be prohibitively expensive, he delayed the project for two weeks while waiting for local stores to have sufficient supplies available. Stewart finished renovations six days late. Joan told Stewart that she owed him nothing but that he owed her $50,000. Stewart told Joan that he was suing for the entire $250,000 because it was not his fault the earthquake delayed matters. Assuming the earthquake does not affect Stewart's liability for damages, which of the following is true regarding the provision that he will pay $50,000 for each day he is late?

A) It will be upheld based on freedom of contract.
B) It will be upheld because the penalty per day is less than one half the amounts due for the job.
C) It will be upheld as a stipulated amount.
D) It will be struck because parties are prohibited as a matter of law from specifying damages.
E) It will be struck as a penalty.

Question 63

Set forth the three main situations in which the courts find objective impossibility.

Question 64

Yolanda and Rodney agreed that Rodney would paint Yolanda's home for $800 with Yolanda supplying the paint. Rodney went to Yolanda's home on several occasions to do the job, but she never had the paint ready. Finally, he moves on to other jobs. Six months later Yolanda sues Rodney for not painting the home. Who is likely to win and why? Set forth the legal term for Rodney's offer of performance.

Question 65

Reference - Earthquake. Stewart, the owner of ABC Construction, agreed with Joan, the owner of XYZ Hotel that he would complete renovations on her upper scale hotel on the beach in Florida by October 1. The amount due to Stewart under the contract was $250,000. The contract contained a clause by which Stewart would pay Joan $50,000 for each day he was late on completing the project. Unfortunately, an unexpected strong earthquake shook the area; and while the earthquake did not damage the hotel itself, Stewart encountered significant difficulty in getting supplies due to the high demand for building material following the earthquake. Because he believed that traveling, himself, to other states to obtain supplies would be prohibitively expensive, he delayed the project for two weeks while waiting for local stores to have sufficient supplies available. Stewart finished renovations six days late. Joan told Stewart that she owed him nothing but that he owed her $50,000. Stewart told Joan that he was suing for the entire $250,000 because it was not his fault the earthquake delayed matters. Which of the following is Stewart's best defense?

A) Impossibility
B) Commercial impracticability
C) Frustration of purpose
D) Profit reduction
E) Material breach

Question 66

List the ways by which a party's contractual obligations can be terminated.

Question 67

Reference - Creaky and Toady. Beverly decides to go on a great trip to Hawaii. She needs someone, however, to take care of her two dogs, Creaky and Toady, while she is gone. Creaky has hives, and Toady passes gas frequently because of a digestive problem. Beverly hires Frank three months in advance and they reach a contractual arrangement whereby he will be paid $200 for keeping the dogs for two weeks. Frank comes over two months before Beverly is set to leave, takes one look at Creaky and Toady, and declares that they are too creepy to be around. Beverly then hires Alice who agrees to care for Creaky and Toady. Two weeks before Beverly is set to leave, however, Alice calls and tells her that she just broke both her legs in an automobile accident, sustained other injuries, and has been put on bed rest for two months. Finally, Alice hires Betty to care for the dogs and heads off to Hawaii where she has a great time. Unfortunately, when Beverly returns home, she finds that Betty fell in love with Creaky and Toady and has absconded with them. It was a month before Beverly was able to get a court order requiring their return. Which of the following is true regarding Alice's refusal to keep Creaky and Toady?

A) She is discharged from performance because of frustration of purpose.
B) She is discharged from performance because of impossibility of performance.
C) She committed a material breach.
D) She failed to substantially perform but only committed an immaterial breach.
E) She is guilty of only a nominal breach because she had a good excuse for breaching.

Question 68

Set forth the elements for a finding of substantial performance and the effect of a finding of substantial performance on damages.

Question 69

Reference - Earthquake. Stewart, the owner of ABC Construction, agreed with Joan, the owner of XYZ Hotel that he would complete renovations on her upper scale hotel on the beach in Florida by October 1. The amount due to Stewart under the contract was $250,000. The contract contained a clause by which Stewart would pay Joan $50,000 for each day he was late on completing the project. Unfortunately, an unexpected strong earthquake shook the area; and while the earthquake did not damage the hotel itself, Stewart encountered significant difficulty in getting supplies due to the high demand for building material following the earthquake. Because he believed that traveling, himself, to other states to obtain supplies would be prohibitively expensive, he delayed the project for two weeks while waiting for local stores to have sufficient supplies available. Stewart finished renovations six days late. Joan told Stewart that she owed him nothing but that he owed her $50,000. Stewart told Joan that he was suing for the entire $250,000 because it was not his fault the earthquake delayed matters. Which of the following is the appropriate term for the agreement that Stewart would pay Joan $50,000 for each day he was late in completion?

A) Mitigated damages term
B) Liquidated damages clause
C) Stipulated damages
D) Acknowledged damages clause
E) Approved and acknowledged damages clause

Question 70

Set forth the circumstances resulting in a finding of anticipatory repudiation as well as the rights of a nonbreaching party when faced with anticipatory repudiation.