KII Jeopardy! Review

What's in the K anyway?

100

Parol evidence is ______________________.

What is Prior written or oral agreements, or contemporaneous oral agreements (made at the time of signing the written agreement) OR in general, evidence of the parties’ expectations that is not included in the written K.

200

True or False: A complete contract is necessarily final.

What is True?

300

T/F: A completely integrated is not open to supplementation or contradiction, while a partially integrated contract is open to supplementation or contradiction.

What is false; if a K is partially or completely integrated, it cannot be contradicted.

400

This is what happens under the UCC when parol terms are offered and the agreement, if final, would certainly include the terms.

What is bar the parol terms?

500

What happens under the R2K if the parties in those circumstances would naturally omit the offered terms from the writing?

What is admit the evd?

Exam Qs

100

Bob Builder has a contract with Smalltown to build a new library for Smalltown. The contract specifies a date for completion, and has a provision stating that for each day he is late, $500 will be deducted from his final payment. The work is not completed on time. If the provision is described in the contract as a “penalty” clause, it will be unenforceable on that basis.

What is false, the description does not matter.

200

Bob Builder has a contract with Smalltown to build a new library for Smalltown. The contract specifies a date for completion, and has a provision stating that for each day he is late, $500 will be deducted from his final payment. The work is not completed on time. that the late completion does cause damage. If $500 per day was a reasonable forecast of damages for delay at the time of the contract, but is NOT reasonable in light of the circumstances now, the provision will be unenforceable.

What is false.

300

Assuming the same facts as in Question 100 and 200, if the library cannot open until the work is complete due to the fact that Smalltown has not completed its purchases of books and furniture, and has not finished hiring staff, a jurisdiction following the Restatement view would not enforce the liquidated damages provision.

What is true, there must be actual damages?

More Exam Qs

300

6. Gary Garagebuilder has a contract to build a garage for Oprah Owner for $20,000. When he is halfway done, and has spent $10,000, he walks off the job without justification. A reasonable builder would charge $9,000 to do the work Gary has done so far. Oprah hires another builder to complete the garage for $12,000. To what, if anything, is Gary entitled?

What is $8,000?

400

Assume the same facts as in Q300. 7. Assume now that Gary completes the garage, but the construction is defective, and the structure is in danger of collapsing. The garage as constructed is worth $12,000, and would be worth $21,000 if constructed properly. It can be repaired at a cost of $10,000. What is the correct damage amount for the defect?

What is $10,000, cost to repair?

500

Betsy Byers orders a new computer from Sam Sellers for $2,000. She makes a $1,000 down payment. She then refuses to take delivery of the computer, and demands the return of her down payment. Sam sustains damages of $500 from the breach. To what amount is Betsy entitled?

What is $100? ($1000 Betty spent -$500 -$400 (20% of cost of cimputer) = 100)

Fun with Damages

100

What are the three main limits on contractual damages?

What are foreseeability; mitigation/avoidability; certainty

400

A plaintiff has no right to recovery under restitution when the P has a) _______________ and the D's remaining duty is b) ______________.

What is a) performed all duties under the K and b) only to pay. A plaintiff has no right to recovery under restitution when the P has performed all duties under the K and the D's remaining duty is only to pay.