Remedies for Breach of Contract

Under which circumstance would a court entertain the idea of ordering specific performance?

The object of the contract is a piece of real property The object of the contract is a one-of-a-kind piece of art

Nominal damages __________.

are meant to show that the aggrieved party "wins," even though the damage they sustained is not large

damages are designed to compensate the aggrieved party for their actual losses.

Compensatory

Which one of the following is a remedy of law?

Nominal Damages Punitive damages

is the payment made for the value of items or services received under a contract, even if the amount received is not the full amount contracted for.

Restitution

Which of the following applies to the concept of equitable remedy?

Restitution Injunction

Which of the following is not true about liquidated damages?

They are harder to calculate up-front than the actual damages

There are times when monetary awards (remedies at law) will not suffice as a remedy. When that is the case, the court can award a(n) ___ and assets remedy.

equitable

There are times when monetary awards (remedies at law) will not suffice as a remedy. When that is the case, the court can award a(n) ___ remedy.

equitable

A remedy that puts the parties back as if the contract never occurred in the first place is called

rescission

Because all pieces of real property are considered ___, specific performance is an equitable remedy that a court may award.

unique