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Exam 20: Discharge and Remedies

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Question 1

Multiple Choice

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All of the following are types of common equitable remedies except ________.

A) rescission
B) restitution
C) anticipatory breach
D) specific performance
E) injunctions

F) B) and C)
G) B) and E)

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Question 2

Multiple Choice

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Carrie and Peter enter into a contract in which Carrie agrees to wash Peter's car if Peter tutors her son in math and her son gets at least a B+. This is an example of which type of conditional contract?

A) Condition Precedent
B) Condition Subsequent
C) Condition Concurrent
D) Implied condition
E) The contract is not conditional.

F) D) and E)
G) C) and D)

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Question 3

Multiple Choice

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Caroline goes to work for a soft drink company that owns a proprietary recipe. She signs a non-disclosure agreement. When she is fired, she threatens to go public with the company's recipe. The company wants to stop her. They should seek a(n) ________.

[Bathroom Mess] For $300,000, Michael agreed to build a new home for Ashton, who is very picky. Michael built the home to Ashton's specifications with one exception: the faucets and flooring in the upstairs bathroom were not exactly what Ashton specified. That was a mistake on Michael's part, but he did not intentionally fail to follow the specifications. When Ashton saw the bathroom, she went ballistic and told Michael that she would not pay Michael anything for the house. It will take $300 to put in the correct faucets and flooring. Michael responded that he is willing to pay $300 to put Ashton in the position she would have been in had the correct faucets and flooring been used, but that is all he is willing to pay. -Michael's offer to put Ashton in the position she would have been in had the proper faucets and flooring been used is based on the measure used for what type of damages?

When each party's performance is conditioned on the performance of the other, which of the following conditions occur?

[Bathroom Mess] For $300,000, Michael agreed to build a new home for Ashton, who is very picky. Michael built the home to Ashton's specifications with one exception: the faucets and flooring in the upstairs bathroom were not exactly what Ashton specified. That was a mistake on Michael's part, but he did not intentionally fail to follow the specifications. When Ashton saw the bathroom, she went ballistic and told Michael that she would not pay Michael anything for the house. It will take $300 to put in the correct faucets and flooring. Michael responded that he is willing to pay $300 to put Ashton in the position she would have been in had the correct faucets and flooring been used, but that is all he is willing to pay. -Which statement is true regarding the breach, if any, that occurred between Michael and Ashton?

Describe the elements of substantial performance of a contract and the effect of a finding of substantial performance on damages.

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

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

Punitive damages are frequently awarded damages.

Laura explicitly states in her contract that she will sing every day of the week, except for holidays, for the local opera provided that she is paid weekly. This type of a condition is known as a(n) ________ condition in the contract?

To recover damages in a breach-of-contract case, the plaintiff must ________ their damages in an effort to minimize the results of the breach.

A[n] ________ discharges the nonbreaching party from his or her obligations under the contract.

Carrie and Peter enter into a contract in which Carrie agrees to wash Peter's car once a week as long as Peter tutors Carrie's son in math and Peter never comes home with a grade below B+. This is an example of which type of conditional contract?

In England, parties who had contracted for rooms along a parade route for a king's coronation were refunded their money when the coronation was canceled because the king became ill. Which of the following doctrines arose from this decision?

Which of the following is NOT a way to discharge contractual obligations by mutual agreement?

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

Kelly contracts with Raphael for Raphael to bring a pony to her daughter's birthday party in exchange for $100. Kelly later learns her daughter is frightened of ponies. She contacts Raphael and Raphael agrees to bring a donkey to the party for $50 instead. Which of the following is true of the original agreement involving the pony and the $100?

Valerie contracted with Timothy to sell her shares of stock to him for $500 even though she knew the company was about to go bankrupt and the stock was worth $5. If a court wanted to punish Valerie for her actions they would assess ________ damages.

Yolef and Stacia enter into a contract for Stacia to cook a meal for Yolef and Yolef to pay Stacia $50. Yolef shows up at Stacia's house with $100. Yolef's actions are an example of ________.