6 Written Questions
6 Multiple Choice Questions
- ● 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
- Requiring the guilty party to perform contract
- Allowing the innocent party to cancel the contract and (try to) return to pre contract position
- ● Previously agreed damage amount
● In lieu of consequential damages, and maybe compensatory and expectancy above
● Why? - because people are risk averse
- ● Innocent Party should be placed IF POSSIBLE in exactly the same position as if guilty party had performed contract
● "Benefit of the Bargain"
- ● Money the innocent party expected to receive and keep if contract was fully performed
● If performance isn't 100%, then these damages can't be greater than if performed completely and received damages
5 True/False Questions
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"
3 Types of Remedies Under Contract Law → ● Damages
● Specific Performance
● Unilateral Rescission
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
Remedies → If breach of contract, what can I do about it?
Damages → Money [aid to the innocent party by the guilty party