Law Mcq

Topics: Contract, Damages, Breach of contract Pages: 22 (6463 words) Published: December 25, 2011
An unregistered firm can institute a criminal proceeding for

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1.| Incorrect| Which of the following types of damages are NOT available in contract cases? Your answer: Equitable remedies
The correct answer: Pecuniary damagesINCORRECT. The major form of relief in contract cases is monetary damages. Other potential types of damages are equitable, and tort damages, including punitive damages.| |

2.| Incorrect| Cecil has a contract for $2000 to paint Buck's house so that Buck can place the house on the market. He realizes that he will not be able to paint Buck's house before Buck sells the house. He calls Buck and tells him he cannot perform the contract. Which statement is NOT true about this contract? Your answer: Buck's obligations under the contract are terminated. The correct answer: Buck may sue Cecil for any damages, but he must wait until the contract is formally breached (e.g., the time in the contract has expired).INCORRECT. Buck may immediately end performance.| |

3.| Incorrect| April has offered $300 for Mark's bicycle and Mark has accepted. Mark has tendered performance by offering to bring the bike over to April's apartment immediately and to turn the bike over immediately. Which statement is true? Your answer: Mark has only partially performed until he has given April the bike The correct answer: If April does not tender $300 immediately, she will be in breach of contract.INCORRECT. Mark has completely performed the contract when he tenders performance.| |

4.| Correct| Which of the following is NOT one of the three levels of performance of a contract? Your answer: Technical performance.CORRECT. The levels are strict performance, substantial performance, and material breach.| |

5.| Correct| Which of the following is NOT a type of monetary damages available under contractual breach? Your answer: Equitable reliefCORRECT. Compensatory damages, liquidated damages, consequential damages, and nominal damages are all types of contractual breach monetary damages.| |

6.| Incorrect| If Dr. Adams, a physician, stops to render aid to a patient at the scene of an automobile accident, he may seek the reasonable value of his services through which remedy? Your answer: Reformation

The correct answer: Quasi contract.INCORRECT. Quasi-contract allows the court to allow a plaintiff to recover a reasonable value for his service or property in the absence of a valid contract. This is the proper remedy in this case. | |

7.| Incorrect| Phillip was an inventor who had just invented a new electronic measure for calibrating ovens. One of his former friends in a hardware store where he used to work was talking to the CEO of a company that was thinking of buying the license to gadget's patent. He mentioned it to Bob, who said, "Well, it's nice to see old Phil finally got one right. He was always such a loose cannon, ya know. He was always claiming that he invented these wonderful things and come to find out someone else had invented them or they just didn't work." Not long after that, the manufacturing company cancelled its negotiations regarding the gadget. Can Phil sue Bob for contractual interference? Your answer: Yes, because the conversation the CEO had with Bob led to the end of negotiations for a contract. The correct answer: No, because there was no firm contract to begin with.INCORRECT. There was no firm contract, which is required in an action for contractual interference. | |

8.| Incorrect| April contracted with Jason to buy his 1945 Chevy as an antique car. Burke, upon hearing that Jason was selling the car, told him not to sell it to April because he had heard her bragging that she would just resell it for parts. The car was very dear to Jason. He refused to sell it to April and instead sold it to Burke. Which is the best action for damages April could file?  Your answer: She could sue Burke and ask for punitive damages. The correct answer: All of the above.INCORRECT....
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