Remedies

Question 1

specific performance

Answer 1

an equitable remedy available only if monetary damages are inadequate to compensate the injured party

Question 2

real property/land

Answer 2

specific performance is generally available because it is unique

Question 3

sale of goods art. 2

Answer 3

specific performance is available only if the goods are unique or there are other proper circumstances (inability to buy similar goods)

Question 4

Personal service ks

Answer 4

specific performance is not available but injunctive relief might be

Question 5

Unpaid seller’s right to reclaim goods

Answer 5

generally not available under article 2 unless the buyer was insolvent when it received the goods and seller makes a demand within 10 days after buyer receives them.

Question 6

Seller reclaim exception

Answer 6

seller can reclaim goods at any time if buyer misrepresented its solvency to seller in writing within three months before delivery.

Question 7

expectation damages

Answer 7

Put an injured party in as good a position as full performance

Question 8

sale of goods damages

Answer 8

expectation

Question 9

buyers damages if seller breaches

Answer 9

if buyer covers in good faith cover price - original k price

Question 10

If buyer does not cover

Answer 10

market price - k price

Question 11

buyer keeps nonconforming goods

Answer 11

loss in value: Value as promised - value as delivered

Question 12

sellers damages if buyer breaches

Answer 12

resale
market
contract
lost profit

Question 13

if seller resells in good faith

Answer 13

Resale damages: K price - Resale Price

Question 14

If seller does not resell in good faith or does not sell at all

Answer 14

market damages: K price - Market price

Question 15

if seller cannot resell the goods

Answer 15

contract price

Question 16

If seller is a lost volume dealer

Answer 16

lost profit

Question 17

liquidated damages

Answer 17

upheld if damages

1. were difficult to estimate at the time of the k
2. are a reasonable forecast of probable damages, but
3. cannot operate as a penalty

Question 18

incidental damages

Answer 18

always recoverable costs to the injured buyer or seller of transporting/caring for goods after a breach and of arranging a substitute transaction

Question 19

consequential damages

Answer 19

indirect results from breach, these must be reasonably foreseeable to the breaching party at the time the k is formed. not available to seller under Art. 2.

Question 20

Avoidable Damages

Answer 20

Always subtract these an injured party cannot recover damages he could have avoided mitigated with reasonable effort.