which of the following is not a legal remedy in contract law? course hero

What are legal remedies in contracts?

An expectation clause because the company expects their money back if the contract is breached. This quiz and worksheet combo gauge your understanding of legal remedies in contracts. You will be quizzed on identifying and applying certain types of damages in hypothetical fact scenarios.

What are the remedies for breach of contract?

There are several remedies for breach of contract, such as award of damages, specific performance, rescission, andrestitution. In courts of limited jurisdiction, the main remedy is an award of damages.

What is the main remedy in court of limited jurisdiction?

In courts of limited jurisdiction, the main remedy is an award of damages. Because specific performance and rescission are equitable remedies that do not fall within the jurisdiction of the magistrate courts, they are not covered in this tutorial. What Damages Can Be Awarded?

What are compensatory damages under section 1A1 of a contract?

1. Compensatory Damages. Compensatory damages (also called “actual damages”) cover the loss the nonbreaching party incurred as a result of the breach of contract. The amount awarded is intended to make good or replace the loss caused by the breach.

Why is it important for agents to learn about the laws?

What is an equitable remedy?

What is the primary goal of a civil case?

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Quiz 1 Chapter 1 Law Overview: Legal Aspects of Real Estate

It is key for agents to learn about the laws because a, they need to be able to memorize them. b. they should be able to give their clients legal advice.

(Legal) Ch. 1 - Law Overview Flashcards | Quizlet

The law has many purposes in our society. Laws set standards, preserve order, settle disputes, and safeguard liberties and rights. Another important functi…

Chapter 12 - Chapter 12 1. Which of the following is not an...

Jennifer decides that she can't handle the children and refuses to tutor them any longer. If Sal sues Jennifer for specific performance, a court would likely: b. refuse to order specific performance of the contract because it is a contract for personal services. 9. A provision in a contract stating that no damages may be recovered is called: a. an exculpatory clause.

Why is it important for agents to learn about the laws?

It is key for agents to learn about the laws because. they need to be able to memorize them. they should be able to give their clients legal advice. they have too many laws that apply to their transaction. they need to know the origination and support for those rules.

What is an equitable remedy?

Equitable Remedy is a non-monetary remedy (no money); which is the principle of creating a fair and just outcome.

What is the primary goal of a civil case?

2/25. In a civil case, the primary goal is to compensate the injured party for the damage done to him or her by

What are the remedies for breach of contract?

There are several remedies for breach of contract, such as award of damages , specific performance , rescission, and restitution. In courts of limited jurisdiction, the main remedy is an award of damages.

What damages can be awarded if a breach of contract is proved?

They are: 1. Compensatory Damages. Compensatory damages (also called “actual damages”) cover the loss the nonbreaching party incurred as a result of the breach of contract.

What is punitive damages?

Unlike compensatory damages that are intended to cover actual loss, punitive damages are intended to punish the wrongdoer for egregious behavior and to deter others from acting in a similar manner. Punitive damages are awarded in addition to compensatory damages. Punitive damages are rarely awarded for breach of contract.

What is the most common type of damages awarded for breaches of contract?

The amount awarded is intended to make good or replace the loss caused by the breach. A. General Damages. General damages cover the loss directly and necessarily incurred by the breach of contract. General damages are the most common type of damages awarded for breaches of contract.

What is special damages?

Special damages (also called “consequential damages”) cover any loss incurred by the breach of contract because of special circumstances or conditions that are not ordinarily predictable. These are actual losses caused by the breach, but not in a direct and immediate way. To obtain damages for this type of loss, ...

How are damages measured in a contract?

The damages are measured by the difference between the contract price and the market price when the seller provides the goods, or when the buyer learns of the breach.

What is standard measure of damages?

The standard measure of damages is an amount that would allow the nonbreaching party to buy a substitute for the benefit that would have been received if the contract had been performed.

What does "compel" mean in a contract?

to compel a party to perform his contractual obligations

What is a damages award?

Damages are an award of money to compensate the innocent party

About This Quiz & Worksheet

This quiz and worksheet combo gauge your understanding of legal remedies in contracts. You will be quizzed on identifying and applying certain types of damages in hypothetical fact scenarios.

Additional Learning

To learn more about damages for breach of contract, review the corresponding lesson on Legal Remedies in Contracts: Definition & Acts. This lesson will help you:

Why is it important for agents to learn about the laws?

It is key for agents to learn about the laws because. they need to be able to memorize them. they should be able to give their clients legal advice. they have too many laws that apply to their transaction. they need to know the origination and support for those rules.

What is an equitable remedy?

Equitable Remedy is a non-monetary remedy (no money); which is the principle of creating a fair and just outcome.

What is the primary goal of a civil case?

2/25. In a civil case, the primary goal is to compensate the injured party for the damage done to him or her by