4 Written questions
4 Multiple choice questions
- 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
- 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.
- is an equitable remedy whereby the court orders the breaching party to perform his contractual duties as promised.
- 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 → compensate for reasonable cost that injured part incurs the breach in an effort to avoid further loss.
Punitive Damages → awarded in addition to the compensatory remedy that are designed to punish a defendant for particularly reprehensible behavior and to deter the defendant and others from commenting similar damages.
Liquidated Damages → The parties to a contract may expressly provide their contracts that a specific sum shall be recoverable if a contract is breached.
Legal Remedies (damages) three principles → An injured parties ability to recover damages in a contract action is limited by three principles