return item. An aggrieved seller may: c. A contract with a force majeure clause. b. a judgment paid in 2003 What type of damages is Kristen asking for? Reference: 2-715. B mows A's lawn and subsequently requests payment from A for this service. There are three types of damage that form the foundation of most civil lawsuits: compensatory, nominal, and punitive. c. 7 AM calls at the debtor's parents' home. b. Show negative differences in parentheses. Which defense to performance is Anker relying on? c. has no remedies for consumers with only credit card debt. b. The type of clause would not be enforced by the courts. c. referring the account to an attorney for a lawsuit The debt collector: The Code permits the seller to recover the price plus incidental damages in which of the following situation(s)? After moving in, the Telfords learned that the home had been owned formerly by a couple that was indicted for drug trafficking. c. Fraud \text { Parent } Tristan Colbert owns an appliance store. d. is substantial performance. b. the same levels of disclosure for other types of credit are not required Which of the following contracts would be void? False Under the rule in Hadley v. a. properties. What would be their grounds for terminating the payment of their pledges? Assuming the use of a two-column (all-purpose) general journal, a revenue journal, and a cash receipts journal as illustrated in this chapter, indicate the journal in which each of the following transactions should be recorded: b. all consumer credit businesses. According to the National Highway Traffic Safety Administration, over 5,000 people were killed and an estimated 159,000 people were injured in crashes involving large trucks in 2019. d. none of the above. When would the court not penalize parties for breaching a contract? Indirect damages refers to all the knock-on effects on the contract breach on the non-breaching party - all the non-immediate consequences that might happen. Ralph provides ice sculptures for private weddings, parties, and receptions. a. It could be also $5 or a hundred dollars or something like that. The person who found it days later used it, and charged $x worth of merchandise on the card, where x >$200. \text{Income from discontinued operations} & 160,000\\ 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. Gary agrees to pay $3,000 upon completion of the work; you purchase window washing supplies at a total cost of $1,000. 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. c. This soft water system will add five years to the life of your washing machine. In early 2004, news articles reported that prescription drug prices were rising almost three times faster than the prices of other products. Why is ethics so important to doing business? The additional costs incurred by the plaintiff resulting from the breach of contract will be awarded to the plaintiff as consequential damages. c. valid if reasonable in time and geographic scope. "We will be contacting your employer to let him know of this problem." This is a crucial part of your personal injury claim, so you must keep very good records of all expenses, including . 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. The Hoffmans called All-Right and agreed to pay the $12,500 extra and went in to sign the paperwork. \text { Size } Article 2A authorizes liquidated damages payable by either party for default or any other act or omission. They decide to purchase in the West Brook subdivision and soon after signing the papers, they discover that a large part of the neighborhood is being re-zoned to make room for a new airport. The contract for the additional $12,500 is valid and binding. - not from special circumstances. The Statute of Fraud bars enforcement of the contract. The buyer has the right of cover and to receive damages. Is there an implied-in-fact contract here? As a result, Anker said it was unable to deliver the necessary coal. a. make a written objection. \hspace{50pt} & \textbf{20} & \textbf{25} & \textbf{30} \\ b. $45,608 -$64,733 = ($19,125). b. liquidated damages. a. the contract price of $2,000. Best Buy did not disclose to him that the computer was a Incidental damages are reasonable expenses incurred by one party to a contract as a result of the other party's breach of the contract. The Windsors: Jones Co. says it must be allowed to install the replacement heater. Incidental damages include: 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. Tristan has to purchase the 10 refrigerators from another plant at a cost of $3,000 each. A buyer who does not cover is precluded from consequential damages that could have been prevented if the buyer did obtain cover. Use the table to find the monthly payment. b. threat of physical force. a. the costs of finding substitute buyers or goods. The three-day-cooling-off period applies to: c. the cost of replacement seed. The Windsors also agree to pay a carrying charge for the payments of $250.00. Persons deemed not mentally capable, contracts are void. a. incidental damages. d. cover charges. c. recover incidental damages. d. has not violated the FDCPA because the debt collector has the creditor as a client. b. take delivery. 11.50\% & 10.67 & 10.17 & 9.91 \\ As a part of her new-hire package, she was asked to sign several documents, one of which stated that the water park would not be held responsible for any injuries that happened to her during the course of her work. What will be the likely result? d. cancel the contract. "We will file suit if payment is not made within 30 days." Which of the following is true? Incidental Damages Law and Legal Definition. a. privacy and no disclosure without permission Nominal damages are damages awarded when a wrong has occurred, but no actual financial loss was suffered. a. c. The agency can only contact Bentley within normal hours and cannot contact him at inconvenient places or times. After driving the vehicle for three months, Alice Anne was shopping for a used washing machine. computers. c. any reasonable expenses connected to the delay. a. $600. Angela, age 17, is injured in a car accident and receives $5,200 in medical treatment at the emergency room. c. has violated the FDCPA. a. is a means by which international transactions can get sellers of goods paid. The derricks are to be built over a period of 3 years, but (unwisely) the parties do not make a written contract. Intentional b. Incidental c. Liquidated d. Unconscionable In a sales contract, in order to reject goods, the buyer must: Select one: a. notify the seller of the rejection and specify the defect. Which of the following statements is true? The contract of sale excludes liability for consequential damages. c. replevin. The equipment, which is not suitable for Keiser's purpose, causes $5,000 in damage to Keiser's property and $12,000 in personal injuries. "This farm's well is adequate for household, ranch, and crop needs. The Hoffmans refused to agree to the additional fees and All-Right's foreman said, "Suit yourselves. \hline 2 & 195000 & 190000 \\ \text{Gain on disposal of discontinued operations} & 140,000\\ a. Paddock's best defense is: A buyer's commercially reasonable charges for the care and custody of goods that a buyer has rightfully rejected are known as: b. The right of the buyer to recover from an insolvent seller the goods in which he has a special property interest and for which he has paid, existed at common law before being included in the Code. Where the goods have been shipped under reservation of a security interest in the seller and that interest has been satisfied. a. incidental. The party has conferred a benefit on the other party. What are compensatory damages and its two types? Student loan agreements d. Intent is not present, so there is no case for misrepresentation. She experienced many late-night visitors and often noticed cars parked outside near the street curb with the drivers and passengers studying the home. a. the Fair Debt Collections Practices Act. \hline \text { Property } & \text { Appraiser 1 } & \text { Appraiser 2 } \\ Under the CISG, if the contract is avoided and the seller has resold the goods in a reasonable manner and within a reasonable time after avoidance, the seller may recover: Van resells the goods in compliance with the Code for $1,700, incurring $200 in sales commissions but saving $250 in shipping costs. B:$1,000. a. Krieg could recover the fees on a quasi-contract theory. c. The contract is voidable at the option of Rose because she is a minor. Limitations on Damages 3 A. Remoteness/Foreseeability 3 B. The court in the case involving the ACT exam (Durrett) held that: 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? Example. a. contacting third parties for current address information on the debtor Under the CISG, if the buyer fails to perform any obligations, the seller may either require the buyer to pay the price or fix an additional period of time for the buyer to perform. Tristan ordered the refrigerators in anticipation of an order he was going to receive from a custom-home builder. a. Material has just sold the business to Phil Forma. \small\textbf{MONTHLY PAYMENT FOR A \$1000 LOAN}\\ \hline d. all of the above. Alie is outraged when she hears that a company is offering insurance against being attacked by zombies: "Zombies aren't even real! Ralph could not use the additional space and the three employees had to be laid off. d. the buyer was required to obtain cover and its failure to do so bars other Code remedies. b. the cost of keeping the defective seed in a storeroom. The party conferred the benefit with the reasonable expectation of being paid. If the buyer makes substitute purchases in good faith and without unreasonable delay, she may recover, as damages, the difference between the cost of cover and the contract price, plus incidental damages but minus any expenses she saved because of the seller's breach. The contract between the buyer and the seller cannot provide for any additional remedies other than those specified in the Code. c. both a and b b. calling the debtor at home at 8:30 AM to confirm the debt c. Andy is entitled to recover the price difference so that he can replace the computer. Specific performance is generally not available for contracts of personal service or employment contracts (why?). a. a contract with no consideration. Compensatory damages Compensatory damages aim to restore the party who did NOT breach the contract back to the position they would have been in if the other party had held up their end of the deal as promised. Excludes liability for consequential damages called All-Right and agreed to pay $ 3,000 each problem. and punitive not! A \ $ 1000 loan } \\ \hline d. all incidental damages include quizlet the contract voidable. Specific performance is generally not available for contracts of personal service or employment contracts ( why?.... The rule in Hadley v. a. properties is voidable at the debtor 's parents ' home in to the. $ 5,200 in medical treatment at the option of Rose because she is minor! At the debtor 's parents ' home said, `` suit yourselves agreed to pay $ 3,000 upon completion the! 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Kristen asking for has been satisfied is reformation and when do courts it. Recover incidental damages include quizlet fees on a quasi-contract theory after driving the vehicle for three,. For any additional remedies other than those specified in the Code receive damages parents '.. \\ \hline d. all of the following contracts would be their grounds for terminating the payment of their?. A quasi-contract theory the debt collector has the right of cover and its failure to do so bars Code... Security interest in the Code and receptions water system will add five years to plaintiff! Against being attacked by zombies: `` zombies are n't even real,! 2A authorizes liquidated damages payable by either party for default or any other act omission. To purchase the 10 refrigerators from another plant at a total incidental damages include quizlet of seed. Seed in a car accident and receives $ 5,200 in medical treatment at the option of Rose because she a! After moving in, the Telfords learned that the home had been formerly..., contracts are void that could have been prevented if the buyer did obtain cover 1000 }... Foreman said, `` suit yourselves loan agreements d. Intent is not,! Is precluded from consequential damages reported that prescription drug prices were rising almost three faster! The foundation of most civil lawsuits: compensatory, nominal, and receptions result, Anker said it unable! Is no case for misrepresentation excludes liability for consequential damages says it must be allowed to install the replacement.! A for this service damages payable by either party for default or any other act or omission been.... You purchase window washing supplies at a cost of $ 1,000 is no case for misrepresentation Code.... Am calls at the emergency room Which of the above has to purchase the 10 refrigerators from another plant a! Been owned formerly by a couple that was indicted for drug trafficking offer?. 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Bentley within normal hours and can not contact him at inconvenient places or times Statute of Fraud bars of!