incidental damages include quizlet

c. Fraud However, after 3 years, half of the money has not been dispersed, and nearly 500,000 people still live in tents. The Kellmans: c. perform the contractual obligations. 2] Special Damages. b. any commercially reasonable charges or commissions in connection with obtaining cover. d. filing suit without first contacting the debtor, a. sending the debtor a postcard that reads: "Don't let this bill affect your excellent credit rating". d. is substantial performance. a. a contract with no consideration. d. liquidated. According to the National Highway Traffic Safety Administration, over 5,000 people were killed and an estimated 159,000 people were injured in crashes involving large trucks in 2019. d. reclamation. c. the Credit Repair Organizations Act. a. testing a hypothesis Alice, age 17, purchased a 2005 Kia auto at the Tempe Autoplex. There are three types of damage that form the foundation of most civil lawsuits: compensatory, nominal, and punitive. return item. What recourse does the retailer have under the circumstances? The real estate agent has committed fraud. Compensatory and incidental damages. Using this, develop an appropriate multiple regression equation. d. the spouse of the consumer debtor. Incidental damages are the direct result of one party's breach of contract. Delegation is the transfer of contractual duties and obligations, assignment is the third-party contract rights that are brought forward afterwards, Compensatory: direct damages as result of breach (car promised was sold to someone else) Suppose Bill steals Amy's trade secrets and forms his own software company. 13.00\% & 11.72 & 11.28 & 11.07\\ A contract with a minor. d. all of the above, The Fair Credit Reporting Act applies: Which of the following statements is correct? c. $350. Compensatory damages are awarded in civil court cases where loss has occurred as a result of the negligence or unlawful conduct of another party. d. None of the above. If the seller has the right to cancel, he may recover damages for breach without having to tender any further performance. Civil damages refers to how much money you may get in a settlement or court award (Kenton, 2020). a. the lost profits from a contract to sell the bean crop. required to forfeit his security deposit and his last month's rent. James Krieg has finished law school but has unsuccessfully taken the bar exam twice. c. the cost of replacement seed. When existing goods are identified to the contract of sale, the buyer acquires a special property interest in the goods. In addition to other remedies available, Jim may be able to recover commercially reasonable expenses incurred as a result of the breach. Diana and Charles Windsor are considering purchasing a swimming pool. b. have a remedy of damages or rescission if this information was withheld from them. a. is void as against public policy. c. The agency can only contact Bentley within normal hours and cannot contact him at inconvenient places or times. a. is a minor and need not pay the bills. D. The buyer may have the right to recover incidental and consequential damages. b. may be so high as to be punitive to the breaching party. c. Sekelow cannot collect the debt without registering as a credit repair organization. a. Why is ethics so important to doing business? B. a. Family income, size of the family, if a senior adult parent resides with the family (1 for yes, 0 for no), and the total number of years of post-high school education for the husband and wife are examples of independent variables. c. Chapter 13 Bob, age 17, has entered into a contract to buy a car. b. specific performance. a. Plains Manufacturing experienced a flood at its plant in Iowa City and lost all goods in production. \end{array} a. Plains will need to pay the damages that Tristan experienced as a result of its failure to deliver - $500 X 10. asking for shipment of 100 swimsuits on 90-day credit. c. liquidated damages. When questioned by the realtor, he admitted that he did know about the re-zoning but it would probably be years before the project started so he was not obligated to tell them about it. c. a lack of capacity in the contracting party. What was the holding in Hadley v. Baxendale ? Incidental Damages are costs and expenses incurred by the non-breaching party to avoid other direct and consequential losses caused by the breach. Which of the following statements is true? \hline \vdots & \vdots & \vdots \\ Startup Company's incidental damages are arguably the $10,000 in personnel costs incurred in finding and vetting comparable alternative software. Must have a relationship based on trust and confidence, with an abuse of the trust (attorneys/clients, elderly parents/children, spouses). a. are attachments of funds for executing a judgment. Property1210Appraiser1235000195000575000Appraiser2239000190000583000. The type of clause would not be enforced by the courts. c. The most the real estate agent has committed is misrepresentation. b. right to dispute information in the report Recast the income statement in multistep form, including allocating income taxes to appropriate items (assume a 30 percent Is the sellers statement a misrepresentation? \end{array} & \text { Education } \\ Stop delivery of the goods by the carrier. Acquisition agreements often contain provisions that restrict or prohibit the payment of "consequential," "special," or "incidental" damages for breach. If Carson contracts to buy a forklift from Yoshie but their contract mistakenly refers to a crane, a mutual mistake has occurred; accordingly, a court can reform the contract such that the contract conforms to the parties' intentions and accurately refers to the forklift being sold. Which of the following statements is correct about the situation? d. none of the above. The buyer may deduct from the price due on the contract any damages resulting from any breach of contract by seller. B: But, assume that Bill operates in an entirely separate market and that Amy either cannot convincingly establish loss profits or, alternatively, that she has not, in fact, suffered lost profits. Sandy experiences significant difficulties with the computer and returns it to Big Box. \hline \text { Family } & \begin{array}{c} The real estate agent has committed fraud. . Under the CISG, the seller may require the buyer to: Example. A debt collector calls the mother of a debtor and says, "I am calling to find out when we can expect your son to pay the $2,312 he owes on his bar tab at my client, The Swamp Cooler. People from the United States pledged $3.3 billion to support the rebuilding efforts in Haiti following the 2010 earthquake there. Where conforming goods have been lost or damaged before risk of loss has passed to the buyer. Looks like rain for the next day or two," and left. a. the costs of finding substitute buyers or goods. There must be a valid contract. b. is liable for the bill as a necessity. d. Cost to reload widgets onto seller's truck at buyer's city. UCC 2-713: Market Price minus Contract Price, plus incidental damages (2-715) UCC 2-717: On notice to Promisor, Promisee may deduct damages caused by breach from any part of the price still . What is another term for consequential damages? \text{Operating expenses} & (225,000)\\ b. b. 4 & 3,360 & 89.3 & 4 & 1 & 0 \\ a. can allow Paula to declare bankruptcy because she has debts. a. the contract price of $2,000. 12.00\% & 11.02 & 10.54 & 10.29 \\ \hline c. the IRS. Keiser can recover $17,000 in consequential damages. Credit counselors are regulated under: Incidental damages include reasonable expenses or commissions in effecting cover. d. All of the above. a. have no recourse if there is nothing physically wrong with the house. d. Undue influence. SalesCostofgoodssoldOperatingexpensesRestructuringTotalincometaxesexpenseforperiodIncomefromdiscontinuedoperationsGainondisposalofdiscontinuedoperationsExtraordinarygainNetincomeEarningspershare$1,110,000(550,000)(225,000)(110,000)(179,100)160,000140,00072,000$417,900$2.09. c. The contract was not valid because of duress, but the Hoffmans signed anyway - so there is a valid and enforceable agreement. a. The buyer's incidental damages resulting from the seller's breach include: a. expenses reasonably incurred in inspection of goods rightfully rejected. What are the buyer's damages for breach of warranty? e. All of the above could be a basis for misrepresentation. d. All of the above. What is the purpose of a force majeure clause? The information is presented as an example below. What is the remedy for misrepresentation? Costs associated with repairing or replacing damaged property. Which of the following is correct? If the buyer makes substitute purchases in good faith and without unreasonable delay, she may recover, as damages, the difference between the cost of cover and the contract price, plus incidental damages but minus any expenses she saved because of the seller's breach. a. an attorney collecting for a client Vandehal Company's total liabilities are $520,000 and its total assets are $460,000. d. none of the above, Which of the following statements (if later established as untrue) would constitute a misrepresentation defense to contract formation? Normally, compensatory damages include one or more of three possible items: loss in value, any allowable consequential damages (also called special damages), and any allowable incidental damages. B: Rather than seek compensation from Bill, she can seek restitution, meaning Amy seeks to recover from Bill any profit that Bill has made by means of his wrongful act (i.e., theft of trade secrets). Legal Remedies: Legal remedies are monetary relief or compensation to the aggrieved party. Medical bills. Paula has a job but admits that she is in over her head on credit card debt. Which of the following is prohibited in the collection of consumer debt by the Fair Debt Collections Practices Act? c. The inability to enforce international contracts. The fair market value of a 10-foot fishing boat is $1,000. The contract is: Which of the following statements would not be a basis for misrepresentation? The buyer's incidental damages resulting from the seller's breach include: Anne was shopping for a used washing machine. b. Plains does not owe any damages to Tristan because of impracticability. Where the buyer has accepted the goods. a. c. the seller is insolvent. A contract with a person declared mentally incompetent. c. is an assignment of benefits. 5, 7, & 8 Review, 25 Rhetorical Devices and the 3 Persuasive Ap. \hline 1 & 2,240 & 60.8 & 2 & 0 & 4 \\ Akon entered into an agreement with Broomfield for his help in building the site and Khalilian to help with marketing. c. has no remedies for consumers with only credit card debt. c. contacting the debtor after the debtor requests no further contact She filed a lawsuit and demanded that they not only refund her money but buy her a new computer comparable to the old one. a. expenses reasonably incurred in inspection of rightfully rejected goods. b. a. the agency must comply. d. All of the above are correct. After she purchased the home, she learned that the home had been the residence of a long-time drug dealer. The lease provided that if Doug ended the lease early, he would be d. "Our buyers are the happiest customers around. Under what circumstances may the buyer seek the remedy of replevin? Is B entitled to payment under a theory of unjust enrichment? Angela, age 17, is injured in a car accident and receives $5,200 in medical treatment at the emergency room. Which of the following statements in a letter from a collector to a debtor would be a violation of FDCPA? As the result of a seller's breach, a buyer may ask for incidental damages. a. void as against public policy. a. accord and satisfaction "I will buy your house, but first, the kitchen sink needs replaced", Not directly involved in the formation of a contract, but is listed within as a beneficiary. RaeAnn and Rick Telford purchased an existing home in a neighborhood of multi-million-dollar homes. July 10, 2012. \small\textbf{MONTHLY PAYMENT FOR A \$1000 LOAN}\\ \hline NO. c. punitive. b. can be compensated under the doctrine of force majeure. \text{Restructuring} & (110,000)\\ b. recover 10 suits provided that Pandora acted within 10 days of discovering the misrepresentation. a. "It was stolen at school last week." a. cover. The representatives of Fun-in-the-Sun Pool arrange a meeting at the Windsor's home to discuss the price and draw up plans. Tristan ordered the refrigerators in anticipation of an order he was going to receive from a custom-home builder. c. Cost to initially ship the widgets to buyer. d. none of the above. B:$1,000. Consequential damages are more indirect, being incurred not as a result of the breach itself, but due to the end result of the breach. However, Broomfield did not tell Akon that he knew that Khalilian was a liar and that he had also been in prison. b. a judgment paid in 2003 a. incidental damages. Consequential damages include damages for destruction of a warehouse caused by the explosion of nonconforming goods. Paddock Pools constructed a swimming pool and deck for the Jensens' home. Ralph entered into a supply contract with the Canasta and the events manager told a lending officer at the bank where Ralph got his construction mortgage for the business expansion that the Canasta would be sending all of its business to Ralph. The bankruptcy court: 10.00%10.50%11.00%11.50%12.00%12.50%13.00%13.50%20$9.669.9910.3310.6711.0211.3711.7212.0825$9.099.459.8110.1710.5410.9111.2811.6630$8.789.159.539.9110.2910.6811.0711.46. b. c. "The school system here is very fine." You own a window washing business and sign a contract with Gary's World of Glass to wash the 200 windows on the outside of the showroom. The contract between the buyer and the seller may expressly limit or exclude consequential damages so long as the contract is not unconscionable. A. d. This car represents status. False Under the rule in Hadley v. a. he acts within 30 days. The hospital sends a bill to Angela, who signed the admitting form in which she agreed to pay for the treatment. \text{Cost of goods sold} & (550,000)\\ Tom breached a contract he had with Jim. Which of the following is not eligible to disclosure of a consumer debtor's credit report? The boat as delivered has a value of $800. On Thursday, the car is involved in an auto accident and is totaled. They must be foreseeable in that they were communicated or known. 60 days The amount of damages that will be paid to the injured party (agreed to by the parties in advance), Damages resulting from a breach of contract (such as lost profits or damage to property), A buyer can breach a contract by . Andrews Manufacturing Company has repudiated its contract to sell 500 computers to a computer store. a. the ability to return the contract consideration. e. None of the above. c. any reasonable expenses connected to the delay. Jessica is going to work as a lifeguard at Big River Water Park. The party has conferred a benefit on the other party. a. She experienced many late-night visitors and often noticed cars parked outside near the street curb with the drivers and passengers studying the home. The availability of some buyer's remedies depends on the buyer's actions. The right of the buyer to recover from an insolvent seller the goods in which he has a special property interest and for which he has paid, existed at common law before being included in the Code. c. serve to shift the risk of unforeseen events. \hline 1 & 235000 & 239000 \\ Compute the variable overhead spending variance and the variable overhead efficiency variance and classify each as favorable or unfavorable. a. the difference between the contract price and the resale price. The hot water heater they sent has a 45-gallon capacity, but Perry had ordered a 60-gallon capacity. The contract for the additional $12,500 is invalid because of duress. a. an attorney collecting a debt for himself ", Duress requires proof of: \end{array} 2 & 2,380 & 68.4 & 2 & 1 & 6 \\ b. a. withhold delivery. Broomfield had recommended his friend, Khalilian, for the project because of his connections with celebrities. What are non-economic damages? b. Which of the following is true? b. Parol evidence a. Use the stepwise method. If Gary had not breached the contract, then the profit that you would have expected to make from the deal is payment under the contract minus costs: $3,000 - $1,000 = $2,000. c. Plains can use the defense of impossibility. where recall that expectation damages restore the plaintiff to the promised position under the contract or the position that the plaintiff would have been in but for the wrong (i.e., breach) committed by the defendant. Study with Quizlet and memorize flashcards containing terms like The Code's remedies are cumulative, therefore, a seller may both withhold delivery of the goods and identify goods to the contract., A company may be considered insolvent under the Code only if it is unable to pay its debts as they are due., If the buyer is insolvent and has not paid for goods it has received, the seller may . After Ericson completes one derrick, Petro Industries states that it will not pay for the derrick. Alie is outraged when she hears that a company is offering insurance against being attacked by zombies: "Zombies aren't even real! a. AnnualInterestRateLengthofLoan(Years), 20253010.00%$9.66$9.09$8.7810.50%9.999.459.1511.00%10.339.819.5311.50%10.6710.179.9112.00%11.0210.5410.2912.50%11.3710.9110.6813.00%11.7211.2811.0713.50%12.0811.6611.46\begin{array}{ c r r r} e. All of the above are covered under the FDCPA. b. consequential. She did not, however, have the Kia. b. are not regulated by federal laws. d. None of the above is covered under the FDCPA. Which of the following cannot be disclosed on a credit report being issued on a job applicant for a $37,000/year job in 2017? 1. The Windsors sign a contract for the pool for a price of $12,000 with payments of $3000 each month for the next four months while the pool is under construction. After a breach by the seller, buyer may replevy the goods after identification if: The Canasta Resort was a large hotel located near Ralph that was not satisfied with its current catering company's ice sculptures and its events manager liked Ralph's work. The seller of a dry cleaning business has agreed not to open another dry cleaning business for two years within a one-mile radius of the sold business. a. is a means by which international transactions can get sellers of goods paid. d. All of the above are prohibited. a. a. duress was clearly involved. Incidental costs occur when a promiser breaches his part of the contract, and the other party ends up having to pay extra charges to cover what was lost or missing because of the breach. c. drawing conclusions b. d. none of the above. Rose later, while still a minor, elected to disaffirm the purchase and notified Sheehan of her decision. 2-710. Compensatory damages are paid to compensate the plaintiff for loss, injury or harm suffered. Ralph could not use the additional space and the three employees had to be laid off. c. Withholding delivery and suit to recover incidental and consequential damages. Or B? Buyer's Incidental and Consequential Damages (1) Incidental damages resulting from the seller's breach include expenses reasonably incurred in inspection, receipt, transportation and care and custody of goods rightfully rejected, any commercially reasonable charges, expenses or commissions in connection with effecting cover and any other Amy agrees to buy goods from Van for a contract price of $2,000 payable on delivery. This car is a real honey. A: Amy runs a software company. a. pay the price. Rachel agrees to sell Bill goods for $2,000. 6] Pre-fixed damages. The cap applies regardless of how serious the injury is or the number of defendants there are. How much is compensatory damages? When Evan turns on the stove, it catches fire, burning Evan severely. Economic damages compensate the plaintiff for the quantifiable monetary losses suffered, including, for example, repair or replacement of damaged property, lost earnings, medical bills, and so forth. Damages a buyer may recover for loss resulting from requirements, the needs of which the seller had reason to know at the time of contracting and which could not reasonably be prevented by cover, are:

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