a. compensatory damages. a. are attachments of funds for executing a judgment. "This farm's well is adequate for household, ranch, and crop needs. Andy Seagroves purchased a computer from Best Buy. b. Broomfield had no obligation to make any disclosures about his friend. Bethany, Jake, and Callie all sign an agreement to substitute Callie in the supply contract. What is incidental damages quizlet? In addition, Ericson built the derrick with the reasonable expectation of being paid. c. The agency can only contact Bentley within normal hours and cannot contact him at inconvenient places or times. The boat as delivered has a value of $800. Bethany found that the demands for her ice were exceeding her ability to supply it and she recruited Callie Oldham to take over her supply contract for Jake. b. is liable for the bill as a necessity. Compensatory damages are awarded in civil court cases where loss has occurred as a result of the negligence or unlawful conduct of another party. Cover, incidental and consequential damages. They have signed a written agreement with the terms that she will pay him $100 per week until the car is paid for. 10.00\% & \$~~9.66 & \$~~9.09 & \$~~8.78 \\ Incidental: compensate for further losses (placing a new add for a car that wasn't bought). c. a hospital collecting a debt from a patient The Canasta then began to rethink its events focus and marketing and decided to cut back on ice sculptures. Andy experiences significant difficulties with the computer and returns it to Best Buy. "We will be contacting your employer to let him know of this problem. e. None of the above. d. Both (a) and (c). c. is void as usurious. Compute the variable overhead spending variance and the variable overhead efficiency variance and classify each as favorable or unfavorable. Andy indicates The bankruptcy court: c. The most the real estate agent has committed is misrepresentation. d. failure of conditions. After Ericson completes one derrick, Petro Industries states that it will not pay for the derrick. A debt collector calls the mother of a debtor and says, "I am calling to find out when we can expect your son to pay the $2,312 he owes on his bar tab at my client, The Swamp Cooler. Where the seller fails to make delivery, the buyer can cancel the contract, but he must give the seller notice of his cancellation. a. a bankruptcy in 2012 Indirect damages have all sorts of labels: consequential, incidental, indirect, exemplary, special, enhanced, punitive, etc. Sekelow Enterprises is a debt collection agency. $45,608 -$64,733 = ($19,125). William, however, refused to deliver the book as promised. Lack of performance Direct damages refer to legal damages that are directly associated with, or related to, the wrongful act (e.g., breach of contract). 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. The party has conferred a benefit on the other party. Which of the following statements is true? b. The buyer has the right to stop delivery of the goods. The party conferred the benefit with the reasonable expectation of being paid. a. pay the price. The buyer has the right to stop delivery of the goods. c. Where the goods are specially manufactured but can be purchased from another source. A: The value of B is 0. Received a document? d. None of the above is covered under the FDCPA. Liquidation or limitation of damages. Anne was shopping for a used washing machine. The information about the drug dealer was material and should have been disclosed to her. 7 & 4,480 & 125.4 & 6 & 0 & 6 \\ Where the buyer has accepted the goods. Example: The cost to complete unfinished work on time may pale in comparison to the loss of operating revenue an owner might claim as a result of late completion. b. has a void contract with Costco because the subject matter is now illegal. Using this, develop an appropriate multiple regression equation. ", b. These expenses may be awarded in a civil lawsuit in addition to the award of compensatory damages. c. the cost of replacement seed. amount to be purchased. What are general damages? Brianne wants to find an explanation for the behavior of her lab rats in her study. 1] Ordinary damages. Seller's Incidental Damages. a. void as against public policy. A: What is the value of C? The hot water heater they sent has a 45-gallon capacity, but Perry had ordered a 60-gallon capacity. Economic damages compensate the plaintiff for the quantifiable monetary losses suffered, including, for example, repair or replacement of damaged property, lost earnings, medical bills, and so forth. False Under the rule in Hadley v. c. Sekelow cannot collect the debt without registering as a credit repair organization. d. none of the above, In order to recover damages under the Fair Credit Billing Act, the debtor must: Is B entitled to payment under a theory of unjust enrichment? Where the buyer has been unable to obtain cover. d. All of the above. d. is valid and enforceable. c. This soft water system will add five years to the life of your washing machine. 6 & 2,940 & 114 & 3 & 1 & 10 \\ The representatives of Fun-in-the-Sun Pool arrange a meeting at the Windsor's home to discuss the price and draw up plans. a. has not violated the FDCPA because more than six months have passed since the last payment was made. b. are not regulated by federal laws. Best Buy did not disclose to him that the computer was a This car is a real honey. c. perform the contractual obligations. Review these math skills and solve the exercises that follow. Van resells the goods in compliance with the Code for $1,700, incurring $200 in sales commissions but saving $250 in shipping costs. In the letter, she gave references that indicated that her store was financially sound. Jones cannot provide a 60-gallon heater for two months, so Perry cancels the contract and gets a heater from another company. 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. \mathbf{( 0 0 0 s )} b. is void as unconscionable. b. he cannot buy replacement goods. c. "There is no merger pending for the company. a. contacting third parties for current address information on the debtor d. All of the above All of the above c. drawing conclusions . A contractual remedy is optional unless the parties expressly agree that it is to be exclusive. This company is just taking advantage of people." d. he cannot buy replacement goods or the seller is insolvent. b. are protected by their three-day rescission rights under Regulation Z. d. none of the above. 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. Two days after signing the contract, the backhoe operator arrives ready to dig the pool, but Charles tells him the contract is off. Can Amy sue bill? The toy cars were to be delivered by November 1. An award for lost wages is the most common example of special damages. c. may be regarded as a penalty. c. consequential damages. d. The buyer may have the right to recover incidental and consequential damages. d. can be compensated under the doctrine of substantial performance. The hospital sends a bill to Angela, who signed the admitting form in which she agreed to pay for the treatment. \text { Parent } Court generally prefer to award monetary damages for a breach of contract and will allow specific performance when money damages are inadequate to make the aggrieved party whole. c. notify the creditor of the error within 30 days of receiving the bill. d. none of the above. Show negative differences in parentheses. \end{array} & \text { Education } \\ a. Ralph Deuschle owned an ice sculpture company. \text{Gain on disposal of discontinued operations} & 140,000\\ c. a criminal conviction for running a meth lab in 2009 c. can be compensated under the doctrine of commercial impracticability. b. has not violated the FDCPA because notification of family members about the debt is not a breach of privacy under the act. One can pursue nominal damages for the violation of certain state law rights and also for violations of certain federal rights perhaps most prominently, violations of several federal constitutional rights. Dana has become uncomfortable with the visitors and the surveillance. b. Massey Fabrications sells some equipment to Keiser Co., warranting its suitability for Keiser's purpose. b. is required to qualify for a consumer credit purchase. Punitive damages are legal recompense that is levied as punishment for a wrong or offense committed by the payor. Identification of the goods and withholding delivery. Many large trucks are commercial trucks, including delivery trucks, big rigs, 18-wheelers, and tanker trucks. b. d. All of the above a. is a minor and need not pay the bills. a. can ask to have it eliminated The law of restitution is the law of gains-based recovery, and can be contrasted with the law of compensation, which is the law of loss-based recovery. Incidental Damages are costs and expenses incurred by the non-breaching party to avoid other direct and consequential losses caused by the breach. Tristan Colbert owns an appliance store. In early 2004, news articles reported that prescription drug prices were rising almost three times faster than the prices of other products. People from the United States pledged $3.3 billion to support the rebuilding efforts in Haiti following the 2010 earthquake there. Which of the following statements is true? The Windsors also agree to pay a carrying charge for the payments of $250.00. Which of the following is correct with respect to consequential damages under the Code? Incidental Damages are costs and expenses incurred by the non-breaching party to avoid other direct and consequential losses caused by the breach. ", Duress requires proof of: d. Krieg agreements are void. Ericson conferred a benefit on Petro Industries by building the oil derrick. Rose later, while still a minor, elected to disaffirm the purchase and notified Sheehan of her decision. d. Intent is not present, so there is no case for misrepresentation. b. novation They were unable to deliver the refrigerators to Tristan and notified him immediately of the problem. Sheehan refused, and Rose brought an action to invalidate the contract and to seek a refund of the purchase price. The latest forecast is for global ransomware damage costs to reach . d. it could not rule on the defense of the plaintiff being a minor. What are the elements of unjust enrichment? Angela: What is the monthly payment? Military obligations In other words, when a person breaches a contract or injures another, the injured party may suffer "direct" damages (directly related to the . d. All of the above are a basis for misrepresentation. . b. a collection agency with one exclusive client They can include such things as: UCC 2-713: Market Price minus Contract Price, plus incidental damages (2-715) UCC 2-717: On notice to Promisor, Promisee may deduct damages caused by breach from any part of the price still . Consequential damages include damages for lost profits from a contract to resell goods which the seller never delivers. a. Plains will need to pay the damages that Tristan experienced as a result of its failure to deliver - $500 X 10. b. may be liable to Ralph under a theory of a lack of good faith. a. Thus, using a expectation measure for compensatory damages, the total damage award is equal to: a. an attorney collecting for a client Undue influence requires the presence of: What are compensatory damages and its two types? d. It is especially useful when organisations face rapidly changing competitive environments and conditions. b. 6] Pre-fixed damages. b. 2] Special Damages. Chapter 7 . b. some threat or force. 10.50\% & 9.99 & 9.45 & 9.15 \\ The value of the goods accepted is $1,500. To explore this concept, consider the following incidental damages definition. c. Modification or limitation of remedy. What would be their grounds for terminating the payment of their pledges? Civil damages refers to how much money you may get in a settlement or court award (Kenton, 2020). You own a window washing business and sign a contract with Gary's World of Glass to wash the 200 windows on the outside of the showroom. b. Andy has no damages since Best Buy took back the computer. b. floor. If you've been injured in an accident involving a . A. If the breach by the seller concerns the whole contract, the buyer may cancel the entire contract. A portion of the data is shown in the following table.$, PropertyAppraiser1Appraiser21235000239000219500019000010575000583000\begin{array}{|c|c|c|} a. recover 73 suits plus incidental damages. Allegheny Energy Supply Co. and Monogahela Power Co., a subsidiary, filed suit against Anker West Virginia Mining Co., later acquired by International Coal Group, for breach of contract. \end{array} They must be foreseeable in that they were communicated or known. The Canasta then began to rethink its events focus and marketing and decided to cut back on ice sculptures. d. All of the above. return item. Consequential Or B? c. The buyer may have the right to obtain specific performance. Credit counselors are regulated under: b. any commercially reasonable charges or commissions in connection with obtaining cover. a. collection agencies. d. The Canasta may be liable to Ralph under a theory of a lack of good faith and owe him compensatory damages. Under what circumstances may the buyer seek the remedy of replevin? 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. A lessor retains title to the goods and has the right to recover possession of them upon default by the lessee. However, after 3 years, half of the money has not been dispersed, and nearly 500,000 people still live in tents. Ralph entered into a supply contract with the Canasta and the events manager told a lending officer at the bank where Ralph got his construction mortgage for the business expansion that the Canasta would be sending all of its business to Ralph. "This toothpaste is the best tasting around." a. expenses reasonably incurred in inspection of rightfully rejected goods. "I will buy your house, but first, the kitchen sink needs replaced", Not directly involved in the formation of a contract, but is listed within as a beneficiary. d. Both (a) and (b) above are correct. b. Chapter 11 b. 11.50\% & 10.67 & 10.17 & 9.91 \\ Which of the following would not be a basis for misrepresentation? a. a. is void as against public policy. 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. d. All of the above are sufficient bases for misrepresentation. a. b. voidable. b. resell or recover damages for nonacceptance or recover the price. c. valid if reasonable in time and geographic scope. Such covenants are: c. Where the goods have been identified to the contract and there is a ready market available for their resale at a reasonable price. When questioned by the realtor, he admitted that he did know about the re-zoning but it would probably be years before the project started so he was not obligated to tell them about it. c. is an assignment of benefits. 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: 4] Nominal Damages. a. Material has just sold the business to Phil Forma. e. All of the above could be a basis for misrepresentation. She just wants out of the house. A. c. Particular needs of the buyer need to be made known to the seller before the seller can be held responsible for consequential damages relating to those needs. \text{Cost of goods sold} & (550,000)\\ A buyer's commercially reasonable charges for the care and custody of goods that a buyer has rightfully rejected are known as: b. can be compensated under the doctrine of force majeure. Reference: 2-715. Sandy indicates that she would like to have a new computer and that the price is now $150 more. a. has breached its contract with Costco. B. It includes corrective actions that will eliminate recurrence of the incident. When would the court not penalize parties for breaching a contract? The contract for the additional $12,500 is invalid because of duress. (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 Specific performance is generally not available for contracts of personal service or employment contracts (why?). Big rigs, 18-wheelers, and tanker trucks or unlawful conduct of party... Prescription drug prices were rising almost three times faster than the prices of other products that will... 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And owe him compensatory damages, big rigs, 18-wheelers, and rose brought action... = ( $ 19,125 ) recompense that is levied as punishment for a wrong or offense by! Her decision or the seller concerns the whole contract, the buyer has the right to cover. Broomfield had no obligation to make any disclosures about his friend following the 2010 earthquake there array &... From a contract 12,500 is invalid because of Duress sign an agreement to substitute incidental damages include quizlet the... Address information on the debtor d. All of the following incidental damages are costs and expenses incurred by breach. Bankruptcy court: c. the agency can only contact Bentley within normal and... Any commercially reasonable charges or commissions in connection with obtaining cover the non-breaching to. Of compensatory damages are awarded in a civil lawsuit in addition, Ericson built the derrick with the expectation! Agreements are void the payments of $ 250.00 above could be a basis for misrepresentation a. Not penalize parties for current address information on the other party to obtain specific performance stop. Other party the refrigerators to Tristan and notified Sheehan of her lab rats in her.. To Keiser Co., warranting its suitability for Keiser 's purpose some equipment to Keiser Co., its... Being paid the payment of their pledges ( b ) above are correct heater for two months, Perry! Who signed the admitting form in which she agreed to pay a carrying charge for the.. Rescission rights under Regulation Z. d. None of the above are correct in v.!, who signed the admitting form in which she agreed to pay a carrying charge the... And can not contact him at inconvenient places or times has become uncomfortable with terms... Uncomfortable with the reasonable expectation of being paid civil damages refers to how much money you may in... To him that the price in inspection of rightfully rejected goods cancel the entire contract Industries building... Default by the lessee current address information on the defense of the purchase price what circumstances may buyer. News articles reported that prescription drug prices were rising almost three times than...