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5 Written questions

5 Matching questions

  1. Parties in fiduciary relationship rosenzweig v. givens pg 319
  2. Quasi Contractual recovery is often granted
  3. Third party beneficiary
  4. Anticipatory Repudiation of Contract pg 327
  5. Fraudulent Misrepresentation
  1. a when one party has partially performed under a contract that is unenforceable
    -alternative to suing for damages
    -allows party to recover the reasonable value of partial performance
  2. b one for whose benefit a promise is made in a contract but who is not a party to the contract

    *DIRECTLY BENEFITS THIRD PERSON
  3. c -one of trust (partners, physician patient)
    -have duty to disclose material facts
  4. d assertion he or she will not preform an obligation that the party is contractually obligated to perform at a future time
    -treated as material
    -nonbreaching party-> seek damages
  5. e misrepresentation that is consciously false and is intended to mislead another

    3 elements:
    1) Misrepresentation of a material fact of (NOT opinion) by conduct of law, silence or words
    2) Must be an intent to deceive "scienter"
    3) Innocent party must justifiably rely on misrepresentation
    ->PLAINTIFF MUST HAVE SUFFERED LEGAL INJURY

5 Multiple choice questions

  1. guarantor seeks to secure personal benefit
    *Exception in collateral promises
  2. -are enforceable
    -even if agreement is made orally/in writing
    -Exception: UCC: the sale of goods, regardless of price, when the contract requires a written rescission
  3. -settlement to discharge original contract
    -must agree to accept performance that is different from performance originally promised
  4. obligor(owing obligation)
    obligee (one whom performance is owed)
  5. lack of genuine assent/voluntary consent

    -> need both "meeting of minds"

5 True/False questions

  1. Tendercertain amount to be paid in event of default or breach
    -penalize breaching party
    -generally not enforceableEquitable remedies
    -if amount is not reasonable the court will not enforce it but will limit recovery to ACTUAL damages

          

  2. Liquidated Damages-recognize wrongdoing with no monetary loss
    -no actual damage/financial loss results from breach of contract only a technical injury is involved
    -may award to innocent party
    -awards are small
    -defendant acted wrongfully

          

  3. Any duty can be delegated except:enforceability to certain contracts -> must be in writing to be enforceable

          

  4. Commercial Impracticability Doctrine pg 330objective = "It cant be done"

    Subjective "I'm sorry i simply can't do it" -> ex. goods cannot be delivered on time because of freight car shortages and payment cannot be made on time because bank is closed

          

  5. Consequential Damages/special damages-indirect and foreseeable losses
    -compensate for a loss that does not directly or immediately result from a breach
    -for plaintiff to collect: must have been reasonably foreseeable at time breach/injury occured
    -flow from consequences or results of a breach
    -breaching party must know ( or have reason to know) special circumstances will cause the nonbreaching party to suffer an additional loss
    -a seller who does not wish to take on risk of consequential damages can limit buyer's remedies via contract

    ex. seller fails to deliever goods, knowing buyer is planning to sell goods immediately-> consequential damages awarded for profits from planned resale

          

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