Measure of Damages Under Common Law and UCC

Question 1

Generally, under the common law, reliance damages are awarded to return an aggrieved contractual party to the position that the aggrievant occupied before the contract’s formation and breach.

Answer 1

True

Question 2

Generally, under the common law, out-of-pocket damages are awarded to return an aggrieved contractual party to the position that the aggrievant occupied before the contract’s formation and breach.

Answer 2

True

Question 3

Generally, under the common law, an aggrieved buyer may recover reliance damages from a seller.

Answer 3

True

Question 4

Generally, under the common law, an aggrieved buyer may recover out-of-pocket damages from a seller.

Answer 4

True

Question 5

Generally, under the common law, an aggrieved seller may recover out-of-pocket damages from a buyer.

Answer 5

True

Question 6

Generally, under the common law, an aggrieved seller may recover reliance damages from a buyer.

Answer 6

True

Question 7

Generally, under the common law, expectancy damages are awarded to return an aggrieved contractual party to a position that the aggrievant would have occupied if the other party had performed his contractual obligation.

Answer 7

True

Question 8

Generally, under the common law, benefit-of-the-bargain damages are awarded to return an aggrieved contractual party to a position that the aggrievant would have occupied if the other party had performed her contractual obligation.

Answer 8

True

Question 9

Generally, under the common law, an aggrieved buyer may recover expectancy damages from a seller.

Answer 9

True

Question 10

Generally, under the common law, an aggrieved buyer may recover benefit-of-the-bargain damages from a seller.

Answer 10

True

Question 11

Generally, under the common law, an aggrieved seller may recover expectancy damages from a buyer.

Answer 11

True

Question 12

Generally, under the common law, an aggrieved seller may recover benefit-of-the-bargain damages from a buyer.

Answer 12

True

Question 13

Generally, under the common law, the measure/equation to prove a buyer’s reliance damages is the difference between the VALUE of the buyer’s consideration and the VALUE of the goods that the buyer received.

Answer 13

True

Question 14

Generally, under the common law, the measure/equation to prove a buyer’s benefit-of-the-bargain damages is the difference between the represented VALUE of goods and the VALUE of the goods that the buyer received.

Answer 14

True

Question 15

Generally, under the UCC § 2-712(2), the measure/equation to prove a buyer’s benefit-of-the-bargain damages is the difference between the represented VALUE of goods and the VALUE of the goods that the buyer received.

Answer 15

False, The buyer may recover from the seller as damages the difference between the cost of cover (buying a substituted contract) and the contract price together with any incidental or consequential damages

Question 16

Generally, under the UCC § 2-712(2), the measure/equation to prove a buyer’s “cover” damages is the difference between the COST of cover and CONTRACT PRICE, plus any incidental damages.

Answer 16

True

Question 17

Generally, under the UCC § 2-712(2), the measure/equation to prove a seller’s damages is the difference between the COSTS and CONTRACT PRICE, plus any consequential damages.

Answer 17

False

Question 18

Generally, under the UCC § 2-713(1), the measure/equation to prove a buyer’s damages after a seller’s repudiation is the difference between the MARKET PRICE — when the breach was discovered—and CONTRACT PRICE, plus any consequential damages.

Answer 18

True

Question 19

Generally, under the UCC § 2-714(2), the measure/equation for a seller’s breach of an express warranty is the difference between the VALUE of accepted goods and the VALUE of the warranted goods.

Answer 19

True

Question 20

Generally, under the UCC § 2-714(2), the measure/equation for a seller’s breach of an implied warranty of fitness is the difference between the VALUE of accepted goods and the VALUE of the warranted goods.

Answer 20

True

Question 21

Generally, under the UCC § 2-709(1)(a), the measure/equation to prove a seller’s damages after a buyer failed to pay is the PRICE of the lost conforming goods.

Answer 21

True

Question 22

Generally, under the UCC § 2-709(1)(a), the measure/equation to prove a seller’s damages after a buyer failed to pay is the PRICE of the accepted goods.

Answer 22

True