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5 Written questions

5 Matching questions

  1. Specific Performance
  2. Compensatory Damages: Sale of land
  3. Quasi Contract Qualifications
  4. Objective Impossibility of Performance Doctrine
  5. Objective impossibility vs. subjective
  1. a objective = "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
  2. b Party seeking recovery must show:
    1) Party conferred a benefit on the other party
    2) Party conferred the benefit w/reasonable expectation of being paid
    3) Party seeking recovery did not volunteer
    four) Party receiving benefit would be unjustly enriched by retaining the benefit without paying it
  3. c -equitable remedy
    -requires performance that was specified in contract
    -granted only when money damages would be an INADEQUATE remedy--> real property, sale of goods pg 336
  4. d a party to a contract is relieved of his duty to perform when performance becomes objectively impossible or totally impracticable (through no fault of either party)

    Qualifications for discharge of obligation:
    1) One of parties dies or becomes incapacitated prior to performance
    2) Specific subject matter of contract is destroyed
    3) Law change -> renders performance illegal
  5. e -seller's breach of contract for a sale of real estate remedy is: SPECIFIC PERFORMANCE
    -buyer is awarded the parcel of property for which they bargained for
    -if remedy is unavailable-> measure of damages is:
    difference between contract price and market price of land

5 Multiple choice questions

  1. only mistake that may allow a contract to be avoided/canceled
  2. 1) Contracts involving land (sales, fixtures, leases, mortgages and easements
    -->Exceptions: partial performance, admission, promissionary estoppel

    2) Contracts that cannot be preformed within year of date of formation
    -->Exceptions: Admission, promissionary estoppel

    3) Collateral contracts -> promises to answer for the debt or duty of another
    -->Exceptions: Main purpose rule, Admission, promissionary estoppel

    four) Promises made in consideration of marriage

    5) UCC-> contracts for sale of goods 500 dollars+
    -->Exceptions: oral contracts for sale of customized goods ma be enforced, admission (quantity), partial performance, contracts between merchants may be enforced, detrimental reliance (321)
  3. 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
  4. -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
  5. -one of trust (partners, physician patient)
    -have duty to disclose material facts

5 True/False questions

  1. Unilateral rescissionboth parties agree to undo contract ->discharges contract

          

  2. Accord and Satisfaction dischargeoriginal contract obligation

          

  3. Agreements to rescind contracts involving transfers of LAND:-seller's breach of contract for a sale of real estate remedy is: SPECIFIC PERFORMANCE
    -buyer is awarded the parcel of property for which they bargained for
    -if remedy is unavailable-> measure of damages is:
    difference between contract price and market price of land

          

  4. Special Performance: Contracts for Personal Services-courts refuse SP because forcing someone to perform personal services against their will -> involuntary servitude
    -courts don't want to monitor contracts

          

  5. Satisfactionperformance of the accord agreement

          

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