Ch18-TB2-WBL-10e

Ch18-TB2-WBL-10e - Chapter18 BreachofContractandRemedies

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Chapter 18 Breach of Contract and Remedies N.B.:   TYPE  indicates that a question is new, modified, or unchanged, as  follows. N A question  new  to this edition of the Test Bank. + A question  modified  from the previous edition of the Test Bank, = A question  included  in the previous edition of the Test Bank. TRUE/FALSE QUESTIONS 1. A breach of contract entitles the  breaching  party to sue for damages. ANSWER: F PAGE: 341 TYPE: N 2. Damages compensate a party for harm suffered as a result of another’s  wrongful act. ANSWER: T PAGE: 341 TYPE: = 3. The amount of damages on a breach of contract is the difference between  the value of what was promised and the value of what was delivered or  performed. 175
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176 TEST BANK 2—UNIT THREE: CONTRACTS AND E-CONTRACTS ANSWER: T PAGE: 341 TYPE: = 4. The injury suffered by a nonbreaching party due to the breach of a contract  may be remedied by payment of compensatory damages. ANSWER: T PAGE: 341 TYPE: = 5. Expenses that are caused directly by a breach of contract—such as those in- curred to obtain performance from another source—are incidental damages. ANSWER: T PAGE: 341 TYPE: =
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CHAPTER 18: BREACH OF CONTRACT AND REMEDIES 177 6. In a contract for a sale of goods, the usual measure of compensatory dam- ages is the difference between the contract price and the market price. ANSWER: T PAGE: 342 TYPE: = 7. The measure of damages for the breach of a contract for a sale of land de- pends on which party breaches and when. ANSWER: F PAGE: 342 TYPE: = 8. In a contract for a sale of land, the usual remedy is specific performance. ANSWER: T PAGE: 342 TYPE: N 9. Consequential damages are foreseeable damages that arise from a party’s  breach of a contract. ANSWER: T PAGE: 343 TYPE: = 10. Damages are awarded for whatever injury a nonbreaching party suffers,  whether or not the breaching party could have foreseen the injury. ANSWER: F PAGE: 343 TYPE: N 11. When a party fails to deliver goods contracted for, the nonbreaching party  may obtain consequential damages for a loss of profit from a planned  resale. ANSWER: T PAGE: 343 TYPE: N 12. Nominal damages usually involve very small amounts. ANSWER: T PAGE: 344 TYPE: + 13. Nominal damages normally establish that the defendant acted wrongly.
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178 TEST BANK 2—UNIT THREE: CONTRACTS AND E-CONTRACTS ANSWER: T PAGE: 344 TYPE: N 14. Normally, when a nonbreaching party has been damaged by a breach of  contract, he or she has a duty to mitigate those damages. ANSWER:
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Ch18-TB2-WBL-10e - Chapter18 BreachofContractandRemedies

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