Contracts Challenges

Question 1

General Damages

Answer 1

Expectation Damages

loss of value of the breaching party’s performance + incidnetial costs + consequential costs - expenses saved

Question 2

Buyer’s remedies when seller breaches and buyer has non conforming goods UCC

Answer 2

VIC

value of goods as contracted for - value of goods as delivered + incidental + consequential

Question 3

Seller breaches and seller has goods

Answer 3

DICE

difference between market price when buyer learns of breach & contract price (if B doesn’t buy replacement goods)
replacement price and contract price (good faith w/out undue delay)
+ incidential & condqunetial
- expenses saved

Question 4

Seller’s remedies whenbuyer breaches and buyer has goods refuses to pay

Answer 4

seller recovers contract price

Question 5

buyer breaches and seller has goods no payment and haven’t shipped

Answer 5

DIE

differnce bt.
K price- market price at time and place for tender OR K price minus resell price
+ incidential
- expenses saved

Question 6

Lost Volume Seller has goods

Answer 6

lost profits + incidenital damages

Question 7

land

Answer 7

specfic performance or difference between market value of land and contract price

Question 8

Construction contracts breach by owner

Answer 8

before construction- lost profits
during- profits= cost
after- contract price + interest

Question 9

Breach by builder

Answer 9

before started- cost to get job completed by someone else above K price + reasonable compensation for delay
After builder started- cost to get job completed by someone else above k price + reasonable compensation for delay
Late- damages are losses incurred
substantial performance of replacement or completion would be extremly high- difference bt value of property if construction had been completed correctly & value as constructed

Question 10

Restitution

Answer 10

value of benefit conferred when breacher refuses to pay for services

K breached- K unenforceable can recover FMV of services
No K- b/c of implied in law dr performing life saving service on plane pay services

Question 11

if goods fail to conform to K buyer has the following 3 options

Answer 11

1. reject all
2. accept all
3. accept some and reject the rest

Question 12

Right to cure

Answer 12

still time to cure

reasonable grounds to believe that the improper tender would be acceptable with or without $ allowance

Question 13

Installment K

Answer 13

buyer can only reject when nonconformity substantially impairs value of installment & can’t be cured