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Contract Law > Chapter Eleven - Remedies > Flashcards

Chapter Eleven - Remedies Flashcards

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1
Q

Cover

A

Good faith, reasonable effort to obtain goods from another source

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2
Q

Substituted Performance

A

Use of commercially reasonable substitute facility (code 2-614)

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3
Q

Alternative Dispute Resolution

A

To settle a dispute other than by litigation, including arbitration and mediation; called ADR

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4
Q

Mediation

A

Neutral helps parties understand each others’ positions and may suggest solutions, but agreement ultimately comes form the parties

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5
Q

Neutral

A

A third party in ADR, mediator or arbitrator

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6
Q

Arbitration

A

A neutral hears both positions and imposes a decision

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7
Q

Court-annexed ADR

A

Use of the court system’s own mediators or arbitrators before going to trial

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8
Q

Binding Arbitraiton

A

Parties give up the right to challenge arbitration result in court

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9
Q

Jurisdition

A

Area within which judicial authority may be exercised

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10
Q

Choice of Law

A

Contracts language that defines which state’s law will apply in case of litigation

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11
Q

Parallel Litigation

A

Single dispute results in cases in more than one state or in both states and federal courts

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12
Q

Notice of Claims Provision

A

Contract language requiring one party to give the other party written notice a specified time before filing suit

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13
Q

Discovery

A

Pretrial investigation of facts by questioning, inspection, and so on

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14
Q

E-discovery

A

Electronic recovery of e-mail and documents from computers, servers, and handheld PDAs

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15
Q

Legal Remedy

A

Award of money; also called damages

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16
Q

Damages

A

Award of money; also called legal remedy

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17
Q

Case at Law

A

A case requesting damages (money)

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18
Q

Equitable Remedy

A

Award that is nonmonetary and involves court orders

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19
Q

Case in Equity

A

Courts can issue orders based on fairness

20
Q

Chancery

A

A chancery court can order acts performed

21
Q

Election of Remedies

A

Injured party’s choice between remedies available for a single actionable occurrence

22
Q

Compensatory Damages

A

Damages intended to put nonbreaching parties in the position they would have occupied if the contract had been fully performed; also called expectation damages

23
Q

Expectation Damages

A

Damages intended to put nonbreaching parties in the position they would have occupied if the contract had been fully performed; also called compensatory damages

24
Q

Incidental Damages

A

Losses reasonably associated with or related to actual damages; indirect damages

25
Q

Costs Avoided

A

Expenses nonbreaching party will not incure

26
Q

Consequential Damages

A

Losses that do not flow directly and immediately from an injurious act

27
Q

Foreseeable

A

That which is reasonable person would anticipate

28
Q

Special Damages

A

Losses that do not flow directly and immediately from an injurious act but are indirect; also called consequential damages

29
Q

Reliance Damages

A

Damages awarded for losses incurred by plaintiff in reliance on the contract; puts party in position that would have been occupied if the contract had not been made

30
Q

Present Worth Doctrine

A

The value in “today’s money,” of payments to be made in the future

31
Q

Liquidated Damages

A

Damages agreed to in advance of breach, in the contract itself

32
Q

Nominal Damages

A

Minimal amount of damages awarded, even if no financial loss resulted from the breach or if the loss cannot be proven with reasonable certainty

33
Q

Costs

A

Examples include filing fees, fees for service of process and similar charges incurred in litigation

34
Q

Attorney’s Fees

A

Payment to attorney for services

35
Q

Fee Recovery or Fee Reversal

A

An award of attorney’s fees

36
Q

Mitigation of Damages

A

An attempt to reduce the harm

37
Q

Laches

A

Injured party delays in seeking remedy in a way that is unfair to the other party

38
Q

Specific Performance

A

Court order requiring a party to perform contract obligations

39
Q

Unique Property

A

An item that is not readily available from other sources

40
Q

Injunction

A

Court order requiring or prohibiting specific actions

41
Q

Restitution

A

To return property or its value

42
Q

Replevin

A

Recovery of property from one who is wrongfully in possession

43
Q

Reformation

A

Rewriting contact; also called blue-penciling

44
Q

Privity

A

The relationship between the parties to the contract

45
Q

Strict Liability

A

Liability regardless of fault

46
Q

Franchise

A

Contract granting the right to operate under a brand name

Contract Law (14 decks)

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