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Exam 16: Remedies for Breach of Traditional and E-Contracts

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Question 41

Multiple Choice

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Which of the following is used in case of a breach of contract that cannot be adequately compensated through a legal remedy?

A) mitigation of damages
B) liquidation of damages
C) equitable remedies
D) tort remedies

E) None of the above
F) All of the above

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Question 42

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Consequential damages are unforeseeable damages.

A) True
B) False

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Question 43

Multiple Choice

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Rudy was working as an applications developer in a software firm in San Jose. His employment contract was for three years at $100,000 a year. Two years into the contract, Rudy's employer fired him as a part of downsizing. Which of the following jobs could Rudy take in order to mitigate damages?

Specific performance is not awarded in contracts for the sale of land.

________ is a situation in which a party to a contract renders performance exactly as required by the contract.

A contractor cannot recover the profits he or she would have made on the contract if the owner breaches the construction contract before construction begins.

Material breach of a contract occurs when a party renders considerable performance of his or her contractual obligations.

Distinguish minor breach from material breach.

The Federal Arbitration Act promotes the arbitration of contract disputes whether the dispute involves federal or state law.

When does a minor breach occur?

Parties to a contract agree in advance to pay ________ damages if the contract is breached.

A famous news anchor signs a five-year contract to report the news for a certain national television news channel. Two years into the contract, another national television news channel, with full knowledge of the anchor's contract with the first news channel, offers the anchor twice the amount of money that she is currently making to breach her contract and sign and work for the second news channel. The news anchor breaches her contract and signs to work for the second channel. In this case, what tort action can the first news channel bring against the second news channel? In your answer, discuss the required elements of this tort and the type(s) of damages that would be available.

Andrew is employed as a chief financial officer of EasyMoney in New York City, for a salary of $200,000 per year on a three-year contract. His employer terminates Andrew with two years left on the contract. Andrew accepts employment as a financial analyst at a different firm that pays $150,000 per year. Which of the following hold true in this scenario?

Which of the following is true in a case of anticipatory breach?

An award of ________ orders the breaching party to perform the acts promised in a contract.

If an employer breaches an employment contract, the employee owes a duty to mitigate damages by trying to find substitute employment.

Mitigation of damages is a nonbreaching party's legal duty to avoid or reduce damages caused by a breach of contract.

Specific performance is awarded if the subject matter of the contract is unique.

Mary buys a new toaster for $500. The toaster's label bears a disclaimer stating that the manufacturer is not liable for consequential damages. One day, while Mary is using the toaster, it starts emitting sparks and the electrical wiring of the kitchen gets damaged. The electrician tells Mary that the toaster malfunctioned and that the cost of repairs would be $2,000. What monetary damages can Mary recover from the manufacturer of the toaster?

Disclaimer of consequential damages is unlawful in most instances.