Ch 16 Flashcards
(9 cards)
Specific performance
292-93
a remedy that orders the breaching party to perform the acts promised in the contract. specific performance is usually awarded in cases in which the subject matter is unique, such as in contracts involving land, heirlooms, and paintings
Specific performance
292-93
Specific performance
292-93
Mititgation of damages
289
Nonbreaching party’s legal duty to avoid or reduce damages caused by a beach of contract
job was terminated before 3 yr contract ended, went to work for a different company but salary was less. he can sue prior company to recover the money.
Liquidated damages
290
damages that parties to a contract agree in advance should be paid if the contract is breached
stating if tenet from rent to own does not pay for 3 months then all furniture bought from there can be taken away. this is an example of liquidated damages clauses that is a penalty and that would bit be enforced
Liquidated damages
290
Nominal damages
289
damages awarded when the nonbreaching party sues the breaching party even though no financial loss has resulted from the breach. nominal damages are usually $1 or some other small amount
most courts disfavor nominal damages lawsuits because they use valuable court time and resources.
Nominal damages
289
Injunction
294
a court order that prohibits a person from doing a certain act.
a professional basketball player cannot play for another team