Chapter Eleven - Remedies

Question 1

Cover

Answer 1

Good faith, reasonable effort to obtain goods from another source

Question 2

Substituted Performance

Answer 2

Use of commercially reasonable substitute facility (code 2-614)

Question 3

Alternative Dispute Resolution

Answer 3

To settle a dispute other than by litigation, including arbitration and mediation; called ADR

Question 4

Mediation

Answer 4

Neutral helps parties understand each others’ positions and may suggest solutions, but agreement ultimately comes form the parties

Question 5

Neutral

Answer 5

A third party in ADR, mediator or arbitrator

Question 6

Arbitration

Answer 6

A neutral hears both positions and imposes a decision

Question 7

Court-annexed ADR

Answer 7

Use of the court system’s own mediators or arbitrators before going to trial

Question 8

Binding Arbitraiton

Answer 8

Parties give up the right to challenge arbitration result in court

Question 9

Jurisdition

Answer 9

Area within which judicial authority may be exercised

Question 10

Choice of Law

Answer 10

Contracts language that defines which state’s law will apply in case of litigation

Question 11

Parallel Litigation

Answer 11

Single dispute results in cases in more than one state or in both states and federal courts

Question 12

Notice of Claims Provision

Answer 12

Contract language requiring one party to give the other party written notice a specified time before filing suit

Question 13

Discovery

Answer 13

Pretrial investigation of facts by questioning, inspection, and so on

Question 14

E-discovery

Answer 14

Electronic recovery of e-mail and documents from computers, servers, and handheld PDAs

Question 15

Legal Remedy

Answer 15

Award of money; also called damages

Question 16

Damages

Answer 16

Award of money; also called legal remedy

Question 17

Case at Law

Answer 17

A case requesting damages (money)

Question 18

Equitable Remedy

Answer 18

Award that is nonmonetary and involves court orders

Question 19

Case in Equity

Answer 19

Courts can issue orders based on fairness

Question 20

Chancery

Answer 20

A chancery court can order acts performed

Question 21

Election of Remedies

Answer 21

Injured party’s choice between remedies available for a single actionable occurrence

Question 22

Compensatory Damages

Answer 22

Damages intended to put nonbreaching parties in the position they would have occupied if the contract had been fully performed; also called expectation damages

Question 23

Expectation Damages

Answer 23

Damages intended to put nonbreaching parties in the position they would have occupied if the contract had been fully performed; also called compensatory damages

Question 24

Incidental Damages

Answer 24

Losses reasonably associated with or related to actual damages; indirect damages

Question 25

Costs Avoided

Answer 25

Expenses nonbreaching party will not incure

Question 26

Consequential Damages

Answer 26

Losses that do not flow directly and immediately from an injurious act

Question 27

Foreseeable

Answer 27

That which is reasonable person would anticipate

Question 28

Special Damages

Answer 28

Losses that do not flow directly and immediately from an injurious act but are indirect; also called consequential damages

Question 29

Reliance Damages

Answer 29

Damages awarded for losses incurred by plaintiff in reliance on the contract; puts party in position that would have been occupied if the contract had not been made

Question 30

Present Worth Doctrine

Answer 30

The value in "today's money," of payments to be made in the future

Question 31

Liquidated Damages

Answer 31

Damages agreed to in advance of breach, in the contract itself

Question 32

Nominal Damages

Answer 32

Minimal amount of damages awarded, even if no financial loss resulted from the breach or if the loss cannot be proven with reasonable certainty

Question 33

Costs

Answer 33

Examples include filing fees, fees for service of process and similar charges incurred in litigation

Question 34

Attorney's Fees

Answer 34

Payment to attorney for services

Question 35

Fee Recovery or Fee Reversal

Answer 35

An award of attorney's fees

Question 36

Mitigation of Damages

Answer 36

An attempt to reduce the harm

Question 37

Laches

Answer 37

Injured party delays in seeking remedy in a way that is unfair to the other party

Question 38

Specific Performance

Answer 38

Court order requiring a party to perform contract obligations

Question 39

Unique Property

Answer 39

An item that is not readily available from other sources

Question 40

Injunction

Answer 40

Court order requiring or prohibiting specific actions

Question 41

Restitution

Answer 41

To return property or its value

Question 42

Replevin

Answer 42

Recovery of property from one who is wrongfully in possession

Question 43

Reformation

Answer 43

Rewriting contact; also called blue-penciling

Question 44

Privity

Answer 44

The relationship between the parties to the contract

Question 45

Strict Liability

Answer 45

Liability regardless of fault

Question 46

Franchise

Answer 46

Contract granting the right to operate under a brand name