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Contracts & Sales > Remedies > Flashcards

Remedies Flashcards

1
Q

The appropriate remedy for a breach of contract is generally…

A

expectation damages.

Positions Plaintiff as if K had been performed.

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2
Q

The appropriate remedy for promisory-estoppel is generally…

A

reliance damages.

Returns Plaintiff to original position.

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3
Q

Specific performance is available if…

A

the legal remedy is inadequate.

(and specific performance is feasible to enforce)

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4
Q

Specific performance is always available for…

A

land sales contracts, because all land is unique.

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5
Q

Specific performance is never available for…

A

services contracts, because enforcement would amount to involuntary servitute and would be unconstituional.

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6
Q

In addition to standard contract defenses, an action for specific performance is subject to the equitable defenses of:

A
  1. Laches;
  2. Unclean hands;
  3. Sale to a bonafide purchaser.
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7
Q

Laches is a defensive claim that…

A

Plaintiff has delayed bringing the action and the delay has prejudiced the Defendant.

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8
Q

Unclean hands is a defensive claim that…

A

the party seeking specific performance is guilty of wrongdoing in the transaction being sued upon.

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9
Q

Sale to bona fide purchaser is a defensive claim that…

A

the subject matter has been sold to a person who purchased for value and in good faith.

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10
Q

Under Article II, a buyer has nonmonetary remedies to:

A
  1. Cancel the contract; or
  2. Replevy (detinue) Identified goods; or
  3. Where the goods are unique or in other proper circumstances, specific performance.
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11
Q

Under Article II, a Seller has the nonmonetary remedy to reclaim goods if:

A

(1) the buyer is insolvent; AND
(2) the seller demands reclamation within 10 days of receipt.

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12
Q

Consequential damages relflect losses…

A

over and above standard expectation damages.

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13
Q

To recover consequential damages, the breaching party must have…

A

known or had reason to know of the special circumstances giving rise to the damages.

(most often consisting of lost profits)

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14
Q

In claiming additional compensatory damages, such as incidental or consequential damages, the Plaintiff must prove…

A

that the losses suffered were certain in their nature and not speculative.

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15
Q

Punitive damages are generally…

A

NOT awarded in contract cases.

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16
Q

Nominal damages may be awarded when…

A

a breach is shown but no actual loss is proven.

17
Q

Liquidated damages clauses stipulate…

A

what damages are to be paid in the event of a breach.

18
Q

Liquidated damage clauses will be enforceable only at an amount which is reasonable in light of:

A
  1. The loss anticipated at the time of contracting;
  2. The actual loss; or
  3. The actual or anticipated difficulties of proving loss in the event of breach.
19
Q

Under Article II, if a seller doesn’t deliver, or the buyer properly rejects the goods or revokes acceptance of the goods, the buyer’s basic damages consist of…

A

the difference between the contract price and either
(1) the market price, or

(2) the cost of buying replacement goods (cover) plus incidental and consequential damages less expenses saved as a result of the seller’s breach.

20
Q

If a buyer chooses to ‘cover,’ the buyer must make a…

A

reasonable contract for substitute goods in good faith and without unreasonable delay.

21
Q

If the buyer measures damages based on the difference between the contract and market price, the market price is usually determined as…

A

of the time the buyer learns of the breach and at the place of tender.

22
Q

If a buyer accepts goods that breached one of the seller’s warranties, the basic measure of damages is…

A

the difference between the value of the goods as delivered and the value they would have had if they had been according to contract, plus incidental and consequential damages.

23
Q

To recover damages fo any defect as to accepted goods, the buyer must…

A

notify the seller of the defect within a reasonable time after they discover or should have discovered the defect.

24
Q

If a seller anticipatorily breaches a contract, the damages will be measured as…

A

the difference between the market price at the time the buyer learned of the breach and the contract price.

25
Q

If a buyer wrongfully repudiates or refuses to accept conforming goods, in addition to incidental damages, the seller can seek to:

A
  1. Resell the goods and recover the difference between the contract price and the resale price;
  2. Recover the difference between the market price, measured at time & place of delivery, and the contract price; OR
  3. Recover under a lost profits measure (K price minus cost to seller) if seller lost out on additional sales.
26
Q

If a buyer accepts goods and doesn’t pay, and the seller is unable to resell the goods, the seller may…

A

maintain an action against the buyer for the full contract price.

27
Q

Consequential damages are only available to…

A

buyers, under Article II.

28
Q

Under the common law, the nonbreaching partycannot recover damages that could have been…

A

avoided with reasonable effort.

29
Q

Restitution is an alternative to contract damages, based on…

A

preventing unjust enrichment, when one party has conferred a benefit on another without gratuitous intent.

30
Q

The measure of restitution damages is generally based on…

A

the value of the benefit conferred.

31
Q

In Virginia, if a person renders services to a decedent in consideration of his promise to leave her an interest in his land by will, and that promise is broken, the promisee is entitled to recover…

A

on an implied contract, the reasonable value of her services.

32
Q

Restitution may be available in a quasi-contract action if:

A

(1) The Plaintiff has conferred a benefit on the Defendant by rendering services or expending properties;

(2) The Plaintiff conferred the benefit with the reasonable expectation of being compensated for its value;

(3) The Defendant knew or had reason to knnow of the Plaintiff’s expectations, AND

(4) The Defendant would be unjustly enriched if they were allowed to retain the benefit without compensating the Plaintiff.

33
Q

Under the UCC, the statute of limitations for sales contracts is…

A

4 years.

Begins to run when breach occurs, regardless of whether aggrieved party knew of breach.

Contracts & Sales (10 decks)

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