equitable remedies

Question 1

rescission is

Answer 1

ask court to end contract and return parties to position they were in before they entered contract
when is unilateral rescission an option?- unilateral mistake if one party knew made mistake

Question 2

restitution

Answer 2

give this back. returning each party any property, goods or money previously given to other party
a. if the actual item is available, it must be returned (restored in specie) if not, then must pay an equivalent amount of money

Question 3

quantum meruit

Answer 3

paying reasonable value for services rendered (paying back time) Parker and O’malley bridge
-restitution is not only available with rescission

Question 4

specific performance

Answer 4

court compels parties to perform contract as promised

a. not available unless money damages are inadequate
- why might the non breacher prefer specific performance to damages? performance more valuable than money
- when will damages be inadequate? when subject matter is unique** real estate

Question 5

specific performance not available

Answer 5

for personal services contracts. Because court doesn’t want to make people do their jobs well. They don’t want to get involved

Question 6

reformation

Answer 6

when court rewrites contract to more accurately reflect the parties intentions

a. usually requested when the plaintiff is seeking other kinds of relief, like damages for breach or specific performance
b. example: overly broad non-compete
- reform the non-compete to not be overly broad

Question 7

quasi contract

Answer 7

court allows parties to recover in contract (when there is none) to prevent unjust enrichment
example: if oral contract is void because of the statute of frauds, but one party has already started performing

Question 8

required elements of a quasi contract

Answer 8

1. defendant received a benefit from plaintiff
2. because plaintiff reasonably expected to be paid for the benefit
3. and the defendant would be unjustly enriched if it kept the benefit without paying the plaintiff

Question 9

injunction

Answer 9

court order a party to do or not do a specified act

example: court enforced a non-compete agreement by enjoining former employee (entering an injunction)