NAME: ________________________

MGMT 643 - Remedies Under Contract Law Test

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6 Written Questions

6 Multiple Choice Questions

  1. ● 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
  2. ● 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
  3. Requiring the guilty party to perform contract
  4. ● Compensatory
    ● Expectancy
    ● Consequential
    ● Liquidated
  5. ● 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
  6. If breach of contract, what can I do about it?

5 True/False Questions

  1. Consequential Damages● Amount of money to compensate innocent party for the money the innocent party spent to perform their part of the contract
    ● "Costs"
    ● Labor and Material Costs

          

  2. Negative 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

          

  3. 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. Compensatory Damages● Amount of money to compensate innocent party for the money the innocent party spent to perform their part of the contract
    ● "Costs"
    ● Labor and Material Costs

          

  5. DamagesIf breach of contract, what can I do about it?

          

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