COB218 Chapter 13 Questions AND ANSWERS VERIFIED 100% CORRECT

COB218 Chapter 13 Questions AND ANSWERS VERIFIED 100% CORRECT . Drake enters into a contract with Eve, who claims to have access to a stock-trading algorithm that will multiply an investment many times over. When the results do not match this promise, Drake learns that Eve does not have access to any unique software and files a suit against her, alleging fraud. Proof of an injury is required to - ANSWER- recover damages. Seth offers to buy a house from Tia for less than Tia paid for it, stating that he would "hate to see anything bad happen to Tia or her house." Tia agrees to sell. Regarding this agreement, a court would likely - ANSWER- not enforce it. Loren and Kendra enter into a contract for the distribution of Loren's produce to local restaurants for which he agrees to pay Kendra. Kendra transfers her right to payment under the contract to County Bank. This transfer is - ANSWER- an assignment. Illya owes Jenny $1,000. In a separate deal, Kasey owes Illya $1,000. Illya unconditionally assigns his rights in the deal with Kasey to Jenny. Illya's right to the $1,000 is then - ANSWER- extinguished. App Developers, Inc. (ADI), enters into a contract with Carmen, the chief executive officer of SalesCorp, to create an app for the firm. To fulfill the contract, ADI hires Max and ten other student interns. With respect to the contract between ADI and Carmen, Max is - ANSWER- an incidental beneficiary. Emil enters into a contract to buy Foley's cultivated bottomland and hill and bench acreage if County AgriCredit will lend Emil the funds to pay for the land. Emil's duty to perform is - ANSWER- conditional Dharma enters into a contract to manage the operations of Esther's dental office for one year, renewable for subsequent one-year terms. If this contract is discharged like most contracts, it will be - ANSWER- performed CrossCountry Trucking & Transport enters into a contract with Discount Outlet Stores to load, transport, deliver, and unload the cargo that Discount designates. CrossCountry's offer to perform, when the company is ready, willing, and able to do so, is - ANSWER- tender. Water Rites, LLC, enters into a contract to site and dig a well for Rancho Verde. Water Rites completely performs. Rancho Verde is entitled to - ANSWER- nothing more. Carpets n' Rugs, Inc., agrees to carpet Downtown Realty's offices, using a particular brand of durable carpet. Carpets n' Rugs completes the job but uses a dif-ferent brand of wear- and weather-resistant carpeting. This is most likely - ANSWER- substantial performance. Ed's Electric substantially performs its contract with Forest Hills Apartments, Inc., to deliver and install an alarm system and parking lot lighting. Forest Hills is entitled to - ANSWER- damages. Business Computer Solutions Education Service enters into a contract to employ Chandra as an instructor for two years to begin June 1. One month before the term begins, Business Computer is underbid by a competitor and loses a major client, Debt Consolidation Corporation. Business Computer now refuses to hire Chandra. Business Computer's repudiation of its contract to employ Chandra is most likely - ANSWER- a material breach. Drainage & Irrigation Equipment, Inc., contracts to sell its assets to Earth & Sky Aquatic Corpo-ration. Before either party has performed, rescission of this con-tract requires - ANSWER- a mutual agreement to rescind Gliding Light, LLC, and Hang Gliders, Inc., are parties to a contract. They subse-quently agree that High Riders Inc. should take Gliding Light's place and assume all of its rights and duties under the contract. This is - ANSWER- a novation Dondi contracts to buy a custom espresso maker from Caffee Specialties, Inc., for $4,500, but Caffee fails to deliver. Dondi buys the appliance else-where for $5,500. Dondi's measure of damages is - ANSWER- $1,000 plus incidental damages. Nogales Ceramics pays Omar $15,000 to propose an online marketing campaign. Two days later, Omar tells Nogales that he has accepted a job in Silicon Valley and cannot plan the campaign. As compensatory damages, Nogales can recover - ANSWER- $15,000. Damon contracts to repair the turf on a soccer field for Carousel Sports Park. Damon knows that without the repair, Carousel will have to cancel an upcoming game. Damon does not perform as promised. As consequential damages, Carousel can recover - ANSWER- the loss of profit from the canceled game. Builders, Inc., agrees to construct an office building for Champion Hotels. The project proceeds according to plan, but before it is done, Champion tells Builders to quit. Builders may recover - ANSWER- profits plus the costs incurred up to the time of the breach. Ambrose enters into a contract to buy 350 acres from Belle Vista Farms to cultivate grapes and open a winery. If Ambrose breaches the contract, Belle Vista's remedy would most likely be - ANSWER- specific performance Dry Gulch Farms hires Elliot to repair its irrigation system on site on a certain date for $2,500, but Elliot does not show up as agreed. Dry Gulch hires Fernando to do the job for $2,000. Dry Gulch may recover from Elliot - ANSWER- nominal damages. . SFX Paintball Games, Inc., and Truck & Trailer Delivery Corporation sign an agreement that provides for the payment of "$1,000 by whichever party commits a material breach of the contract that creates damages difficult to esti-mate but approximately $1,000." This is - ANSWER- a liquidated damages clause. Rural Power Utility, Inc., enters into a contract with Shovel Excavation Service to dig up, replace, and rebury Rural's cables in a certain location. Rural advances Shovel 10 percent of its cost. The parties rescind the contract. Shovel's refund of the payment is - ANSWER- restitution. Ira orally agrees to buy a unique collection of sports memorabilia for $1,000 from Janet and sends her $250 as a down payment. When Ira sends her the rest of the price, Janet refuses to ship Ira the collection. Ira should seek - ANSWER- specific performance Resourced Minerals Inc. agrees to deliver ten tons of coal to Static Energy Corporation. The agreement states that delivery is to be within "9" days, although the parties intend "90" days. Resourced Minerals cannot convince Static Energy to amend the contract. Resourced Minerals should seek - ANSWER- reformation Rikki agrees to sell her Sunrise Breakfast Café to Tia. As part of the deal, Rikki signs a covenant not to open a competing business within a hundred-mile radius for ten years. If this covenant is later determined to be unreasonable, the appropriate remedy is most likely - ANSWER- reformation River Vista Inc. enters into a contract with Stable Realty Management to manage and maintain River Vista's commercial real estate. Their contract provides that neither party can recover damages for a non-fraudulent or unintentional breach. This is - ANSWER- a limitation-of-liability clause. Nora enters into a contract with Oceanic Transport, Inc., to insure and ship a painting from France to the United States for a certain price. But Oceanic makes a mistake in adding the costs, which results in a contract price that is $1,000 less than the true cost. Most likely, a court would - ANSWER- allow the parties to rescind the contract.