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Exam 14: Breach of Contract and Remedies

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Question 31

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A breach of contract is said to have occurred only if both the parties do not perform their duties as specified in the contract.

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Question 32

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________ damages are awarded when the nonbreaching party sues the breaching party even though no financial loss has resulted from the breach.

A) Consequential
B) Compensatory
C) Nominal
D) Liquidated

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Question 33

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An arbitration agreement separate from the actual contract cannot be enforced on a breach of contract.

A professional baseball player signs a three-year contract with a baseball team.Six months into the contract,the player breaches the contract.Sighting this opportunity,another team induces the player to join them.Under these circumstances,is the new team liable to the first team for the tort that arises?

Rescission and restitution restore the parties to the positions they occupied prior to the contract.

Which of the following constitutes material breach?

Which of the following torts arises when a third party induces a contracting party to breach the contract with another party?

A court order that prohibits a person from doing a certain act is termed as a(n) ________.

________ occurs when one contracting party informs the other that he or she will not perform his or her contractual duties when due.

Liquidated damages are enforceable if ________.

Monetary damages cannot be recovered for minor breach of contracts.

Mary buys a new toaster for $500.The toaster's label bears a disclaimer stating that the manufacturer is not liable for consequential damages.On Monday morning,while Mary is using the toaster,it emits sparks and damages the electric wiring in the kitchen.The electrician tells Mary that the toaster malfunctioned and that the cost of repairs in her kitchen would come up to $2,000.What can Mary recover from the manufacturer of the toaster?

If a contractual duty has been discharged,the contracting party owes an absolute duty to perform the duty.

Which of the following is true of anticipatory breach?

If a breaching party refuses to pay the judgment of a contract breach,the nonbreaching party can seize the properties of the breaching party without a court order.

A third party can be sued for intentional interference in spite of him or her having no knowledge of an existing contract between two parties.

An anticipatory breach of contract excuses the nonbreaching party from mitigating damages.

Brooksold Corporation contracts to have Zealent Construction Company build a factory for $4,000,000.Days before the start of construction,Zealent withdraws from the contract.Brooksold invites proposals for the construction and contracts with Sierra Nos Builders for $3,800,000.Can Brooksold hold Zealent liable for nonperformance? What can the company recover as compensation for damages?

In an intentional interference with contractual relations,a third party can contract with a breaching party without becoming liable for this tort if a contracting party has already breached the contract.

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