4 Written Questions
4 Multiple Choice Questions
- The parties to a contract may expressly provide their contracts that a specific sum shall be recoverable if a contract is breached.
- The starting point in calculating compensatory damages is to determine the loss in value of the performance that the plaintiff had the right to expect.
- In exceptional cases in which money damages alone are not adequate to fully compensate for a party's injuries, a court may grant an Equitable Remedy either alone or in combination with a legal remedy.
- The normal measure of compensatory damage is not appropriate in every case.
When it is not appropriate, a court may use an alternative measure of damages.
4 True/False Questions
Nominal Damages → very small damages awards that are given when a technical breach of contract has occurred without causing any actual or provable economic loss.
Consequential Damages (Also Called Special Damages) → compensate for losses that occur as a consequence of contract.
Compensatory Damages → A person who has been injured by a breach of contract is entitled to recover compensatory damages
Normally, compensatory damages include 1 or more of three possible items:
1)Loss in value
2)Allowable consequential damages
3)Any allowable incidentals
Legal Remedies (damages) three principles → A party can recover damages only for those losses that they can prove with reasonable certainty. losses that are purely speculative recoverable
A breaching party is responsible for paying only those losses that were foreseeable to him at the time of contracting.
Plaintiff injured by a breach of contract have the duty to mitigate (avoid or minimize) damages.