4 Written questions
4 Multiple choice questions
- An injured parties ability to recover damages in a contract action is limited by three principles
- compensate for reasonable cost that injured part incurs the breach in an effort to avoid further loss.
- compensate for losses that occur as a consequence of contract.
- A party can recover damages only for those losses that they can prove with reasonable certainty. losses that are purely speculative recoverable
A breaching party is responsible for paying only those losses that were foreseeable to him at the time of contracting.
Plaintiff injured by a breach of contract have the duty to mitigate (avoid or minimize) damages.
4 True/False questions
Specific Performance → 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.
Loss in Value → very small damages awards that are given when a technical breach of contract has occurred without causing any actual or provable economic loss.
Equitable Remedies → 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.
Nominal Damages → compensate for reasonable cost that injured part incurs the breach in an effort to avoid further loss.