Remedies - Module 5 of 5


Question 1

Monetary damages that put the non-breaching party in the economic position he would have been in had the contract been performed are called

Question 2

A seller that sells goods to an insolvent buyer

Question 3

Which of the following is a seller’s remedy?

Question 4

Acme Home Improvement, Inc. sells lawn and sporting equipment. Acme orders 100 professional-grade long fishing poles for $300 each from Barnacle’s Fishing Gear. Barnacle delivered the shipment and Acme payed with a check that was dishonored by the bank. Barnacle, the seller, may try to get the get the goods back under a remedy called

Question 5

Acme Home Improvement, Inc. sells lawn and sporting equipment. Acme orders 100 professional-grade long fishing poles for $300 each from Barnacle’s Fishing Gear. Acme wanted fast-action rods but received slow-action rods. A court finds that Acme failed to properly specify the type of rods it wanted and therefore Acme is in breach for withholding payment for the goods. Barnacle has the fishing rods and intends to sell them. The contract price was $30,000. The market value and resale price of the fishing rods are both $27,000. Therefore, the damage measure would amount to

Question 6

Acme Home Improvement, Inc. sells lawn and sporting equipment. Acme orders 100 professional-grade long fishing poles for $300 each from Barnacle’s Fishing Gear. Acme wanted fast-action rods but received slow-action rods. A court finds that Acme failed to properly specify the type of rods it wanted and therefore Acme is in breach for withholding payment for the goods. Barnacle sells all of the fishing rods to another buyer for $27,000. Barnacle had enough fishing rods to sell to both Acme and the other buyer. Barnacle

Question 7

Cover is

Question 8

Acme Home Improvement, Inc. sells lawn and sporting equipment. Acme orders 100 professional-grade long fishing poles for $300 each from Barnacle’s Fishing Gear. Acme wanted fast-action rods but received slow-action rods. A court finds that Acme properly specified the type of rods it wanted and therefore Barnacle is in breach for delivering a non-conforming shipment. The contract price was $30,000. Acme buys 100 comparable fishing rods from another supplier at $345 per fishing rod, or $34,500. Acme’s damages are therefore

Question 9

Acme Home Improvement, Inc. sells lawn and sporting equipment. Acme orders 100 professional-grade long fishing poles for $300 each from Barnacle’s Fishing Gear. Acme contracted with Barnacle to produce specially-manufactured rods for a fishing tournament. After completing about half the fishing rods, Barnacle indicates that it will not be able to produce the remaining fishing rods. Acme demands delivery of the complete rods and Barnacle refuses. Acme then seeks a court order in equity to compel Barnacle to deliver the rods. The remedy Acme seeks in the court order is called

Question 10

Acme Home Improvement, Inc. is a non-consumer seller of lawn and sporting equipment. Acme orders 100 professional-grade long fishing poles for $300 each from Barnacle’s Fishing Gear. Acme contracted with Barnacle to produce specially-manufactured rods for a fishing tournament. After completing about half the fishing rods, Barnacle indicates that it will not be able to produce the remaining fishing rods. Acme is forced to cancel its fishing tournament and seeks consequential damages. Acme should