A+ Graded Paper
LGST Exam 2 – 100% Verified Q&A for
Guaranteed Success
Questions and Mark scheme
Version: Final
, commercial impracticability - ✔✔excuses duty to perform a contract due to unforseeable or
extreme occurances/circumstances.
frustrations of purpose - ✔✔principal purpose frustrated without the fault of either party; some
event occurred, when the nonoccurrence of the even was a central assumption; the parties have
not allocated the risk of the occurrence of the event
monetary damages - ✔✔money compensation sought or awarded as a remedy for a breach of
contract or for tortious acts
compensatory damages - ✔✔money intended to restore a plaintiff to the position he was in
before the injury; equivalent to the actual value of injuries or damage sustained by the aggrieved
party.
consequential damages - ✔✔special damages that compensate for a loss that is not direct or
immediate (for example, lost profits); the special damages must have been reasonably
foreseeable at the time the breach or injury occurred in order for the plaintiff to collect them.
punitive damages - ✔✔damages exceeding simple compensation and awarded to punish the
defendant.
nominal damage - ✔✔damages awarded that are more symbolic in nature than compensatory or
punitive; the monetary amount is minimal (if any) and is awarded simply to denote that some
level of wrong was done
restitution - ✔✔one party performing, the other materially breaches, nonbreaching party can
rescind and get FMV for any services rendered
liquidated damages - ✔✔damages that parties to a contract agree in advance should be paid if the
contract is breached
equitable remedies - ✔✔any form of relief that does not involve a request for monetary damages
1. rescission
2. reformation
3. specific performance
4. injunctions
specific performance - ✔✔an equitable remedy requiring the breaching party to perform as
promised under the contract; usually granted only when money damages would be an inadequate
remedy and the subject matter of the contract is unique
Clean hands and tender of performance - ✔✔a party suing another for breach of contract is
required to demonstrate tender of performance in order to meet the "clean hands" maxim
LGST Exam 2 – 100% Verified Q&A for
Guaranteed Success
Questions and Mark scheme
Version: Final
, commercial impracticability - ✔✔excuses duty to perform a contract due to unforseeable or
extreme occurances/circumstances.
frustrations of purpose - ✔✔principal purpose frustrated without the fault of either party; some
event occurred, when the nonoccurrence of the even was a central assumption; the parties have
not allocated the risk of the occurrence of the event
monetary damages - ✔✔money compensation sought or awarded as a remedy for a breach of
contract or for tortious acts
compensatory damages - ✔✔money intended to restore a plaintiff to the position he was in
before the injury; equivalent to the actual value of injuries or damage sustained by the aggrieved
party.
consequential damages - ✔✔special damages that compensate for a loss that is not direct or
immediate (for example, lost profits); the special damages must have been reasonably
foreseeable at the time the breach or injury occurred in order for the plaintiff to collect them.
punitive damages - ✔✔damages exceeding simple compensation and awarded to punish the
defendant.
nominal damage - ✔✔damages awarded that are more symbolic in nature than compensatory or
punitive; the monetary amount is minimal (if any) and is awarded simply to denote that some
level of wrong was done
restitution - ✔✔one party performing, the other materially breaches, nonbreaching party can
rescind and get FMV for any services rendered
liquidated damages - ✔✔damages that parties to a contract agree in advance should be paid if the
contract is breached
equitable remedies - ✔✔any form of relief that does not involve a request for monetary damages
1. rescission
2. reformation
3. specific performance
4. injunctions
specific performance - ✔✔an equitable remedy requiring the breaching party to perform as
promised under the contract; usually granted only when money damages would be an inadequate
remedy and the subject matter of the contract is unique
Clean hands and tender of performance - ✔✔a party suing another for breach of contract is
required to demonstrate tender of performance in order to meet the "clean hands" maxim
