Contract Damages likely IA

Contract Damages likely IA

University

10 Qs

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Contract Damages likely IA

Contract Damages likely IA

Assessment

Quiz

Other

University

Easy

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nana kwabena

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of contract involves obligations that are yet to be performed by one or both parties?

Executed contract

Executory contract

Unilateral contract

None of the above

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does "breach of contract" mean?

When, with or without excuse, a party fails to perform their obligation

When without lawful excuse a party fails or refuses to perform what's due from them under a contract

Without lawful excuse not performing a contractual obligation, when it is due

Failure to perform contractual obligation

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Limitations on claiming damages for breach of contract do not include:

Causation

Remoteness of damage

Mitigation of damage

Fairness of damage

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Damages for breach of contract can be claimed when the innocent party has suffered:

More distress

Mere inconvenience

No loss

All of the above

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a common law remedy for termination of a contract?

Injunction

Termination of the contract

Damages

None of the above

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens in the case of a breach of contract?

Automatically terminates performance of the contract

Automatically terminates the contract itself

Gives the innocent party the right to terminate the contract

Gives the innocent party the right to claim damages

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Upon a breach of contract, what does mitigation of loss require the innocent party to do?

Prevent the loss

Care for the breach

Communicate loss to the breaching party

Minimize the loss or take steps to prevent further loss

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