ACC 480 Exam 2 Questions And Answers 100% Verified

ACC 480 Exam 2 Questions And Answers 100% Verified Damages are the ________ of remedies - answerbasic Damages usually consist of ______________ - answermoney Rescission and Restitution usually...... - answerrestore the contract back before it it ever happened What type of damage..... You have a classroom and want to buy 10 tables for $100 each from a vendor. The vendor accepts and then comes back and says he will not do the deal. The next deal you find is $120 per table. You can sue the original vendor for the additional $20 per table. - answerCompensatory damages standard measure of compensatory damages - answerdifference between value of promised performance and value of actual performance What type of damages..... it cost you $100 to get a new quote for the tables - answerincidental damages measurement of damages in construction Owner breaches before construction.... - answerprofits (contract price -cost of materials and labor) measurement of damages in construction owner breaches during construction - answerprofits plus costs incurred up to the time of the breach measurement of damages in construction owner breaches after construction is complete - answerfull contract price plus interest measurement of damages in construction contractor breaches before construction has begun - answercosts in excess of contract price to complete work measurement of damages in construction contractor breaches before construction is completed - answerall costs incurred by owner to complete common remedies to a contract breach - answerDamages Rescission and Restitution Specific Performance Reformation Recovery Based on Quasi Contract Consequential damages are _____________ losses - answerforeseeable Consequential damages - answerbreaching party is aware causing the injury party additional loss What type of damages? you decide to build a toy store. Your contract says you can open November 1st. Reasonable time was given to the contractor to build and he drags his feet around during construction. He says you will not be able to open until the following January 1st. You will miss opening for the holidays and all the profits you could have made. You can sue for the missed sales due to the delaying of opening. - answerconsequential damages What type of damages? what can you sue for? you decide to build a toy store. Your contract says you can open November 1st. Reasonable time was given to the contractor to build and he drags his feet around during construction. He says you will not be able to open until the following January 1st. You will miss opening for the holidays and all the profits you could have made. - answerconsequential damages You can sue for the missed sales due to the delaying of opening. punitive damages - answerpunish or deter future conduct. usually tort is involved what type of damages will occur? : After Katrina, when people called state farm insurance to assess their damages, they refused to come. Instead, they deemed the damages by water, not wind, and did not look at the damages. They did not pay people for their damages. The courts will tact on an additional payment state farm has to pay in addition to what they owe them as well. - answerpunitive damages "don't do that again, shame on you" damages - answerpunitive damages nominal damages - answerno financial loss. Usually just to prove a point like "I was right" what type of damages "I was right, you were wrong" - answernominal