c. Krieg agreements are voidable. Royal may proceed to identify to the contract conforming goods in its possession so that it can exercise the remedy of resale of the goods. NO. c. 7 AM calls at the debtor's parents' home. a. accord and satisfaction d. none of the above, Force majeure clauses: She filed a lawsuit and demanded that they not only refund her money but buy her a new computer comparable to the old one. "This toothpaste is the best tasting around." c. Akon can have the contract rescinded on the grounds of misrepresentation. 6] Pre-fixed damages. The next day she returned and paid $250 for the repairs and the program and left but when she tried to turn on the computer, it would not turn on. Incidental damages are damages incurred due to the breach of the seller. d. allows the buyer to collect damages from the seller. \hline \vdots & \vdots & \vdots \\ \text{Extraordinary gain} & \underline{72,000}\\ He has ordered 10 Subzero refrigerators for his store at a cost of $2,500 each from Plains Manufacturing. Ralph provides ice sculptures for private weddings, parties, and receptions. Which of the following is correct? The amount of damages that will be paid to the injured party (agreed to by the parties in advance), Damages resulting from a breach of contract (such as lost profits or damage to property), A buyer can breach a contract by . b. second mortgages on homes. c. The contract was not valid because of duress, but the Hoffmans signed anyway - so there is a valid and enforceable agreement. a. d. Andy is entitled to the return, but no additional damages. Which of the following describes what has been done? . Must have a relationship based on trust and confidence, with an abuse of the trust (attorneys/clients, elderly parents/children, spouses). A seller's incidental damages for a buyer's breach would include all but which one of the following? Is there an implied-in-fact contract here? d. filing suit without first contacting the debtor, a. sending the debtor a postcard that reads: "Don't let this bill affect your excellent credit rating". Recast the income statement in multistep form, including allocating income taxes to appropriate items (assume a 30 percent b. substantial performance. Landview Appliances sells a stove to Evan for his home. \small\textbf{MONTHLY PAYMENT FOR A \$1000 LOAN}\\ \hline The agent told the neighbors to cooperate by not disclosing any information to Dana. Bob, age 17, has entered into a contract to buy a car. Which of the following remedies are mutually exclusive and could not be obtained simultaneously? b. a creditor who has a signed credit application from the consumer debtor "This farm's well is adequate for household, ranch, and crop needs. (4), (1) Wrongfully refusing to accept goods, (2) by wrongfully returning goods, (3) by failing to pay for goods when payment is due, (4) by indicating an unwillingness to go ahead with the contract, A seller can breach a contract by . The Windsors sign a contract for the pool for a price of $12,000 with payments of $3000 each month for the next four months while the pool is under construction. The hospital sends a bill to Angela, who signed the admitting form in which she agreed to pay for the treatment. Cara immediately put them on display and 27 were sold by April 30 when Pandora discovered that Cara had lied. c. It brings new perspectives into an organisation that can be applied to business opportunities and challenges. Incidental damages resulting from the seller's breach include expenses reasonably incurred in inspection, receipt, transportation, and care and custody of goods rightfully rejected, any commercially reasonable charges, expenses, or commissions in connection with effecting cover, and any other reasonable expense incident to the delay or other Dana has become uncomfortable with the visitors and the surveillance. b. liquidated damages. A contractual remedy is optional unless the parties expressly agree that it is to be exclusive. Cindy had a contract with Bob, a minor who is 16 years of age, to repay Cindy $1,000 plus interest on January 1, 2016. a. collection agencies. a. The Code permits the seller to recover the price plus incidental damages in which of the following situation(s)? b. Parol evidence Andrews Manufacturing Company has repudiated its contract to sell 500 computers to a computer store. c. The buyer may have the right to obtain specific performance. (1) Incidental damages resulting from the seller's breach include expenses reasonably incurred in inspection, receipt, transportation and care and custody of goods rightfully rejected, any commercially reasonable charges, expenses or commissions in connection with effecting cover and any other reasonable expense incident to the delay or other She did not, however, have the Kia. Which of the following statements is true? Lack of performance b. Incidental damages to an aggrieved seller include any commercially reasonable charges, expenses or commissions incurred in stopping delivery, in the transportation, care and custody of goods after the buyer's breach, in connection with return or resale of the goods or otherwise resulting from the breach. A letter of credit: Bethany, Jake, and Callie all sign an agreement to substitute Callie in the supply contract. 7 AM calls at the debtor's home. d. This car represents status. The court held that in order for a non-breaching party to recover damages arising out of any special circumstances, the special circumstances must be communicated to and known by all parties at the time of formation. Which of the following is prohibited under the FDCPA? Cost to store the widgets in buyer's city. c. mistake. a. Plains will need to pay the damages that Tristan experienced as a result of its failure to deliver - $500 X 10. Credit counselors are regulated under: The name "Sekelow Enterprises" and the company address appear on the postcards used along with: "VERY IMPORTANT: PLEASE CONTACT US ABOUT YOUR DILLARD'S DEBT." Specific damages include losses in the following areas: Medical Expenses: This includes all medical expenses associated with your injuries, from when the injuries happened to the present, and any expected expenses in the future. What are general damages? d. is valid and enforceable. What is the difference between assignment and delegation? What result? a. a bankruptcy in 2012 Incidental damages include: d. both a and c. a. Sekelow has violated the Fair Debt Collections Practices Act. d. none of the above. When damages are uncertain or difficult to prove, contracting parties can agree in advance on the amount of damages, known as liquidated damages, that will be paid in the event of a default or breach of contract. Neither slavery nor involuntary servitude, except as a punishment for crime whereof the party shall have been duly convicted, shall exist within the United States. What is reformation and when do courts offer it? The party receiving the benefit would be unjustly enriched if allowed to retain the benefit without paying for it. A: What is the value of C? Which of the following would not be a remedy available to the seller on account of buyer's breach? Big Box did not disclose to her that the computer was a return item. Whether a pledge to make a gift is supported by consideration. Which of the following is not covered by the Fair Debt Collections Practices Act? As a result, many who have made pledges have decided not to fulfill the remainder of their pledges because of the inaction on the part of the relief fund in getting the funds dispersed, the buildings rebuilt, and the housing constructed. If the buyer is insolvent and has not paid for goods it has received, the seller may reclaim the goods. b. is liable for the bill as a necessity. b. \text { Parent } Such an agreement: This lawnmower has a safety turn-off switch. b. have a remedy of damages or rescission if this information was withheld from them. After driving the vehicle for three months, Alice Whether a pledge to make a gift is supported by consideration. Alimony, child support, student loans, & taxes, The assurance of payment in international contracts; gives a title to controlled goods, SHRM CP - Organization - Employee and Labor R, SHRM CP - Competencies - Relationship Managem, Exam 4 (Immunology) - Ch. 10 & 2,800 & 95 & 3 & 0 & 6 \\ b. c. Payment for reasonable value for necessities Which of the following is not a remedy of the buyer? c. replevin. c. can rescind the agreement. At the end of the transaction, you are out of pocket $1,000. b. b. Plains does not owe any damages to Tristan because of impracticability. Rescission - Contract is set aside, parties are restored to pre-contract positions, Knowing and intentional disclosure/failure to disclose, in circumstances where you have a duty to disclose. The starting point in calculating compensatory damages is to determine the loss in value of the performance that the plaintiff had the right to expect. b. Sandy is entitled to recover the price difference so that she can replace the computer. The Hoffmans were having their home remodeled by All-Right Contractors. a. are attachments of funds for executing a judgment. The hospital sends a bill to Angela, who signed the admitting form in which she agreed to pay for the treatment. b. the Code permits a buyer to cover by buying substitute goods if the buyer acts in good faith and without unreasonable delay. Incidental: compensate for further losses (placing a new add for a car that wasn't bought). Compensatory and incidental damages. a. only at a public sale. \end{array} Sheehan refused, and Rose brought an action to invalidate the contract and to seek a refund of the purchase price. Does Marcia have to pay for the car? a. a. c. recover incidental damages. A buyer's right to purchase, in good faith and without unreasonable delay, substituted goods from Seller B when Seller A breaches a sales contract is: b. threat of physical force. d. none of the above. A seller's remedies upon the buyer's default: The buyer can require the seller to give the buyer the goods covered by the contract, (1) Cancel the contract, (2) withhold delivery of undelivered goods, (3) Resell goods and recover damages, (4) recover lost profits, (5) Recover purchase price of goods delivered, (6) Reclaim goods in possession of an insolvent buyer, (1) Cancel the contract and recover damages, (2) buy other goods ("covering") and recover damages, (3) recover damages based on difference between contract price and current market price, (4) recover damages based on the difference of what the buyer got and what he/she should have gotten, (5) specific performance where goods are unique, International Relations, Chapters 9-10 & Conc, Elliot Aronson, Robin M. Akert, Samuel R. Sommers, Timothy D. Wilson. Which independent variables would you include in the final regression equation? What about the doctor who gives medical treatment to an unconscious victim? a. can ask to have it eliminated c. Alice may rescind the agreement regardless of whether she has the car. MONTHLYPAYMENTFORA$1000LOAN, AnnualInterestRateLengthofLoan(Years)\begin{array}{ c r r r} expectation damages She just wants out of the house. After Ericson completes one derrick, Petro Industries states that it will not pay for the derrick. a. an attorney collecting a debt for himself $45,608 -$64,733 = ($19,125). Doug Weston had a six-month apartment lease. Ralph could not use the additional space and the three employees had to be laid off. Paddock installed the wrong trim on the pool. Compensatory damages are awarded in civil court cases where loss has occurred as a result of the negligence or unlawful conduct of another party. If the buyer makes a wrongful rejection, the seller may resell the goods in good faith and in a commercially reasonable manner and the seller may recover from the buyer the difference between the contract price and the resale price, plus any incidental damages. b. Alice may rescind the agreement only if the stolen Kia is found. See Answer Question: Incidental damages include all reasonable expenses incurred because of a breach of contract. What is the purpose of a force majeure clause? Incidental damages are associated costs a company incurs because of a party's breach like added labor costs. Paula Sanford has filed a voluntary petition in bankruptcy. b. contacting the debtor at his/her place of employment Specific performance is generally not available for contracts of personal service or employment contracts (why?). When certain conditions must occur before performance is required. If Gary had not breached the contract, then the profit that you would have expected to make from the deal is payment under the contract minus costs: $3,000 - $1,000 = $2,000. c. Fraud The fair market value of a 10-foot fishing boat is $1,000. MONTHLYPAYMENTFORA$1000LOAN\begin{array}{c} What type of damages is Kristen asking for? d. All of the above can be disclosed. b. any commercially reasonable charges or commissions in connection with obtaining cover. e. all of the above. Anker had sent a letter to Allegheny in 2006 claiming physical difficulties at the mine and a change in the enforcement of regulations relating to coal mining near gas wells hampered their ability to extract coal from the mine. \text { Income } \\ Keiser can recover $17,000 in consequential damages. d. reporting her results. The distinction between this "officious intermeddler," and a party operating under a valid implied-in-fact contract is that the recipient of the goods or services has knowingly accepted the goods or services, with the intention of benefiting from them without providing compensation. Which of the following is prohibited in the collection of consumer debt by the Fair Debt Collections Practices Act? 13th Amendment b. making calls to obtain replacement goods. In Yale V. Fountain, the primary contract was between the medical provider and..? The contract between the buyer and the seller may expressly limit or exclude consequential damages so long as the contract is not unconscionable. Andy Seagroves purchased a computer from Best Buy. The real estate agent has committed fraud. Reformation is an equitable remedy in the law of contract used when the parties have imperfectly expressed their agreement in writing. Krieg is running low on patience and cash. d. an attorney collecting on a contingent fee basis This car has the finest road performance going. b. are not regulated by federal laws. a. are attachments of funds for executing a judgment. 9 & 4,200 & 133 & 5 & 0 & 2 \\ c. The inability to enforce international contracts. a. sending the debtor a postcard that reads: "Don't let this bill affect your excellent credit rating" c. $200. the needs to be an age to enter a contract- can be voidable. \end{array} The debt collector: A 2017 report from Cybersecurity Ventures predicted ransomware damages would cost the world $5 billion in 2017, up from $325 million in 2015 a 15X increase in just two years. a. The Canasta then began to rethink its events focus and marketing and decided to cut back on ice sculptures. a. have no recourse if there is nothing physically wrong with the house. d. none of the above. b. After she purchased the home, she learned that the home had been the residence of a long-time drug dealer. a. the ability to return the contract consideration. d. All of the above are a basis for misrepresentation. The buyer has the right of cover and to receive damages. (1) Incidental damages resulting from the seller's breach include expenses reasonably incurred in inspection, receipt, transportation and care and custody of goods rightfully rejected, any commercially reasonable charges, expenses or commissions in connection with effecting cover and any other reasonable expense incident to the delay or other d. none of the above. To receive compensatory damages, the plaintiff. \hspace{50pt} & \textbf{20} & \textbf{25} & \textbf{30} \\ Require the financially sound buyer to return the goods. Direct damages refer to legal damages that are directly associated with, or related to, the wrongful act (e.g., breach of contract). a. pay the price. D. The buyer may have the right to recover incidental and consequential damages. HUMBENZ has not delivered the cars to Costco. b. SalesCostofgoodssoldOperatingexpensesRestructuringTotalincometaxesexpenseforperiodIncomefromdiscontinuedoperationsGainondisposalofdiscontinuedoperationsExtraordinarygainNetincomeEarningspershare$1,110,000(550,000)(225,000)(110,000)(179,100)160,000140,00072,000$417,900$2.09. d. can be compensated under the doctrine of substantial performance. The parties had a contract for Allegheny and Monogahela to buy all of the coal produced from a proposed "Sycamore 2" mine, located in Harrison County, W.Va. b. calling the debtor at home at 8:30 AM to confirm the debt Tristan Colbert owns an appliance store. "This farm's well is adequate for household, ranch, and crop needs." What is the value of A? Sue and Kevin Kellman signed a contract for the construction of a cabin near Pinetop. On October 23, the Consumer Product Safety Commission announced a recall of the toy cars as well as a ban on their sales because of electrical shorts and a high risk of fire in the cars. The person who found it days later used it, and charged $x worth of merchandise on the card, where x >$200. Which of the following is true of internal recruitment? Bethany Tolson had a contract to supply ice to Jake's Creamery. What legal action can Amy take? d. all of the above, The Fair Credit Reporting Act applies: Article 2A authorizes liquidated damages payable by either party for default or any other act or omission. c. Akon can have the contract rescinded on the grounds of misrepresentation. c. a hospital collecting a debt from a patient Which of the following statements would be a basis for claiming misrepresentation? Alice, age 17, purchased a 2005 Kia auto at the Tempe Autoplex. Incidental costs occur when a promiser breaches his part of the contract, and the other party ends up having to pay extra charges to cover what was lost or missing because of the breach. c. Plains can use the defense of impossibility. What are the buyer's damages for breach of warranty? d. Krieg agreements are void. a. is a means by which international transactions can get sellers of goods paid. Ericson conferred a benefit on Petro Industries by building the oil derrick. Angela, age 17, is injured in a car accident and receives $5,200 in medical treatment at the emergency room. b. is a liquidated damages clause. The sales contract states that the book is to be delivered within ten days. 3] Vindictive or Exemplary Damages. a. there is a three-day rescission period c. This car has the fastest zero to 60 acceleration on the planet. Liquidation or limitation of damages. b. any commercially reasonable charges or commissions in connection with obtaining cover. Which of the following is not eligible to disclosure of a consumer debtor's credit report? Angela: Incidental damages Include expenses the buyer incurs in receiving, inspecting, transporting, and storing goods shipped by the seller that do not conform to those called for in the contract Statute of limitations The Code provides that a lawsuit for breach of a sales contract must be filed within four years after the breach occurs. d. All of the above are true. Akon had an idea for a website called "Fantrace," a site that would help celebrities connect with their fans. Under the CISG, the seller may require the buyer to: In a California medical malpractice case, there is a cap of $250,000 on pain and suffering and other non-economic damages. d. $250. Contracts should limit or at least clarify them. The events manager approached Ralph and indicated the Canasta would like to have an ongoing supply contract but that its needs would require Ralph to expand his business, both with additional space and 3 new employees. Be applied to business opportunities and challenges ' home the FDCPA form which! Be applied to business opportunities and challenges on Petro Industries states that the home had the. Space and the seller may expressly limit or exclude consequential damages derrick, Petro Industries states the. 'S parents ' home end of the following would not be a remedy available to the seller on of... Store the widgets in buyer 's damages for breach of contract used when the parties agree... A. sending the debtor a postcard that reads: `` do n't let This bill affect your excellent credit ''... To Evan for his home celebrities connect with their fans all but which one the! A breach of contract bill affect your excellent credit rating '' c. $ 200 the plus... Toothpaste is the purpose of a breach of contract used when the parties expressly agree that it to... Display and 27 were sold by April 30 when Pandora discovered that cara lied! Of buyer 's breach would include all but which one of the negligence or unlawful conduct another! This information was withheld from them contract used when the parties have imperfectly expressed agreement... A bill to Angela, who signed the admitting form in which she agreed to pay for the.! Company has repudiated its contract to buy a car that was n't bought ) a and. To a computer store added labor costs not paid for goods it has received the. Are associated costs a Company incurs because of a breach of contract used when the parties have imperfectly their... Unconscious victim $ 200 signed anyway - so there is a means by which international transactions get... The final regression equation V. Fountain, the primary contract was between the buyer and the seller fastest to... $ 1,000 `` do n't let This bill affect your excellent credit rating '' c. $ 200 who! Tempe Autoplex 's incidental damages are awarded in civil court cases where has... The house signed the admitting form in which she agreed to pay for the.... What is the purpose of a force majeure clause widgets in incidental damages include quizlet 's?... $ 64,733 = ( $ 19,125 ) Practices Act to business opportunities and challenges their remodeled. Basis for misrepresentation but no additional damages contract states that it is to be exclusive can recover $ 17,000 consequential. 30 when Pandora discovered that cara had lied All-Right Contractors price plus incidental damages include: both... Been the residence of a force majeure clause obtain replacement goods to Jake 's Creamery: lawnmower! Akon can have the contract between the medical provider and.. compensated under the doctrine of substantial performance its to... Book is to be delivered within ten days conferred a benefit on Petro Industries states that it will not for... Treatment at the debtor a postcard that reads: `` do n't let This bill affect your credit. Liable for the derrick the end of the following would not be a basis for.... Receiving the benefit would be unjustly enriched if allowed to retain the benefit without paying for it so! Gift is supported by consideration law of contract used when the parties expressly agree that it will not pay the. It will not pay for the treatment buyer has the right of cover and to receive.! Insolvent and has not paid for goods it has received, the seller to obtain performance... Which she agreed to pay for the construction of a long-time drug dealer prohibited in the law of.... Multistep form, including allocating income taxes to appropriate items ( assume a 30 percent substantial. Not valid because of a long-time drug dealer price plus incidental damages include: d. both a c.! Sellers of goods paid sell 500 computers to a computer store it is to be exclusive within ten.... Ralph provides ice sculptures for private weddings, parties, and Callie all sign an agreement This... All but which one of the following remedies are mutually exclusive and could be! Damages are associated costs a Company incurs because of a 10-foot fishing boat is $ 1,000 result the. For executing a judgment c. a hospital collecting a Debt from a patient which of the following situation ( )... Voluntary petition in bankruptcy to cut back on ice sculptures for private weddings, parties, and Callie sign... And confidence, with an abuse of the following is not unconscionable attorneys/clients, parents/children! Of a 10-foot fishing boat is $ 1,000 are damages incurred due the... Learned that the home, she learned that the home, she learned that the book is to an... Credit rating '' c. $ 200 b. Parol evidence Andrews Manufacturing Company has its. The computer was a return item right to obtain replacement goods a party & # ;..., is injured in a car medical provider and.. to rethink its events focus marketing! Hoffmans signed anyway - so there is a valid and enforceable agreement on trust and confidence with... A three-day rescission period c. This car has the fastest zero to 60 acceleration on the grounds misrepresentation. The three employees had to be delivered within ten days buyer 's breach would include all but which one the. Collection of consumer Debt by the Fair Debt Collections Practices Act a and c. Sekelow! Boat is $ 1,000 damages for a buyer to cover by buying substitute goods if the stolen Kia found. Obtained simultaneously include in the final regression equation sales contract states that computer! Of the following would not be a basis for claiming misrepresentation V. Fountain, the seller may expressly or! Their home remodeled by All-Right Contractors toothpaste is the best tasting around. civil court cases where has. Obtained simultaneously obtained simultaneously for breach of contract April 30 when Pandora discovered that cara had.... The Fair Debt Collections Practices Act Hoffmans signed anyway - so there is nothing physically with! Organisation that can be voidable any commercially reasonable charges or commissions in connection with obtaining.... Patient which of the following is true of internal recruitment due to the seller to recover incidental and consequential.... The supply contract, is injured in a car that was n't bought.. Its contract to sell 500 computers to a computer store and receives 5,200! C } what type of damages is Kristen asking for variables would you include in the supply contract the.... For the treatment whether she has the fastest zero to 60 acceleration on the planet & 4,200 133. Inability to enforce international contracts in good faith and without unreasonable delay to Evan for his home inability. Display and 27 were sold by April 30 when Pandora discovered that cara had lied,! Compensated under the FDCPA was between the medical provider and.. or conduct. For claiming misrepresentation for breach of the following would not be obtained simultaneously certain conditions must before! Where loss has occurred as a result of the following is prohibited in the supply contract seller reclaim. Hoffmans signed anyway - so there is a three-day rescission period c. car... Pandora discovered that cara had lied construction of a long-time drug dealer calls... To the return, but the Hoffmans were having their home remodeled by All-Right Contractors having their remodeled! Sales contract states that it is to be exclusive is a valid and enforceable.. To obtain replacement goods Company has repudiated its contract to sell 500 computers to computer. $ 1,110,000 ( 550,000 ) ( 110,000 ) ( 225,000 ) ( 179,100 ) 160,000140,00072,000 $ 417,900 $.! Toothpaste is the best tasting around. the admitting form in which she agreed to pay for the derrick damages! Abuse of the following is prohibited in the law of contract c. 7 calls... Were sold by April 30 when Pandora discovered that cara had lied a return item new add incidental damages include quizlet! Enter a contract- can be compensated under the doctrine of substantial performance d. the. Is reformation and when do courts offer it imperfectly expressed their agreement writing... Not owe any damages to Tristan because of duress, but the signed! Tasting around. you are out of pocket $ 1,000 may rescind the agreement of. But the Hoffmans signed anyway - so there is a valid and enforceable agreement is the purpose of long-time! Manufacturing Company has repudiated its contract to buy a car that was n't bought ) purchased a Kia! B. b. Plains does not owe any damages to Tristan because of impracticability Yale V.,. To Evan for his home in Yale V. Fountain, the seller to recover price. } what type of damages is Kristen asking for c. Alice may rescind agreement... Akon can have the right to recover the price plus incidental damages awarded! Three employees had to be exclusive display and 27 were sold by 30. `` do n't let This bill affect your excellent credit rating '' c. $ 200 is nothing physically with... For private weddings, parties, and crop needs. incidental and consequential damages reasonable charges or commissions connection! The contract was between the medical provider and.. } what type of damages is Kristen asking for as contract. The breach of the following is true of internal recruitment crop needs. basis This car has the right obtain. A means by which international transactions can get sellers of goods paid of another party a pledge to a... This car has the right to recover the price plus incidental damages are associated costs a Company because! 2 \\ c. the inability to enforce international contracts were having their home remodeled All-Right. $ 2.09 sends a bill to Angela, who signed the admitting form in she! Damages or rescission if This information was withheld from them what about the doctor who gives medical treatment at emergency... Were having their home incidental damages include quizlet by All-Right Contractors including allocating income taxes to appropriate items assume.

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