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6 Written Questions

6 Multiple Choice Questions

  1. ● NYC mother in apartment with child
    ● Child grabs electric cord - gets 3rd degree burns
    ● Takes to hospital - if pay $, then doctor will take skin from thigh to cover the hand
    ● Hair follicle from thigh starting growing in the hand
    ● Hand doesn't look exactly like the other hand = breach of contract
  2. Requiring the guilty party to perform contract
  3. Allowing the innocent party to cancel the contract and (try to) return to pre contract position
  4. ● Previously agreed damage amount
    ● In lieu of consequential damages, and maybe compensatory and expectancy above
    ● Why? - because people are risk averse
  5. ● Innocent Party should be placed IF POSSIBLE in exactly the same position as if guilty party had performed contract
    ● "Benefit of the Bargain"
  6. ● Money the innocent party expected to receive and keep if contract was fully performed
    ● "Profit"
    ● If performance isn't 100%, then these damages can't be greater than if performed completely and received damages

5 True/False Questions

  1. Unilateral Rescission● If not possible to give innocent party benefit of bargain
    1. Permits IP to cancel contract - only IP
    2. Returns IP to pre contract position or as closely as possible
    ● Least preferable of remedies - Why?
    ● doesn't give IP "benefit of bargain"

          

  2. 3 Types of Remedies Under Contract Law● Damages
    ● Specific Performance
    ● Unilateral Rescission

          

  3. Positive Specific Performance● Require guilty party to perform contract because no other remedy can put innocent party in same position
    ● For personal services, can only use if government-safety-related
    ● Professional sports - can't make them perform

          

  4. RemediesIf breach of contract, what can I do about it?

          

  5. DamagesMoney [aid to the innocent party by the guilty party

          

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