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5 Written questions

5 Matching questions

  1. Rights that cannot be assigned/transferred pg. 322
  2. Mitigation of Damages
  3. Section 139 of Restatement (second) Contracts
  4. Obligor/Obligee
  5. Performance
  1. a fulfillment of one's duties arising under a contract with another way

    -normal way of discharging obligations
  2. b obligor(owing obligation)
    obligee (one whom performance is owed)
  3. c 1) Statute/law expressly prohibits assignment of a particular right
    2) Contract is for personal services (UNLESS all that remains is a money payment)
    3) Assignment will materially change risks or duties of obligor
    four) Contract itself prohibits assignment
  4. d -when breach of contract occurs innocent injured party is held to a duty to reduce the damages they suffer
    -duty owed depends on nature of contract
    -a rule requiring a plaintiff to do whatever is reasonable to minimize damages caused by defendant

    ex. Tenant fails to pay rent -> landlord finds new tenant -> former tenant is liable for difference between amount of rent in original lease and rent recieved from tenant (three thirty four)

    ex. terminated employees have duty to take similar jobs if available -> failure to do so -> damages will be equivalent to their salaries less the incomes they would have received in similar jobs obtained by reasonable means
  5. e -based on detrimental reliance
    -oral promise can be enforceable if reliance was foreseeable to person making promise
    -if injustice can be avoided only by enforcing the promise
    -court may also enforce an oral contract if party against whom enforcement admits that a contract sale was made

5 Multiple choice questions

  1. enforceability to certain contracts -> must be in writing to be enforceable
  2. -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
  3. for the nonbreaching party for loss of bargain
    -innocent parties must be placed in position they would have occupied had contract been fully performed
  4. both parties agree to undo contract ->discharges contract
  5. bar creditors from enforcing most of their contracts with debtor-> partial payment of a debt after discharge in bankruptcy will not revive debt

5 True/False questions

  1. Objective Impossibility of Performance Doctrineobjective = "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. Compensatory Damages-party preforms exactly as agreed
    -no question
    -if specifications are conditions-> performance is required to avoid material breach
    -if specifications arent conditions-> performance is not complete

          

  3. Election of Remedies-"fixed"/determined/settled, certain dollar amount...stipulated in contract
    -agreed by both parties
    -paid in event of breach
    -must be reasonable estimate of damages that would result from a breach
    -normally enforceable
    -usually in construction contracts

          

  4. Specific Performance: Sale of Land-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

          

  5. Quasi Contractfictional contract imposed on parties by a court in fairness and justice
    -imposed to avoid unjust enrichment of one party at expense of anohter
    -courts act as if contract exists when there is no actual agreement