Low - Remedies

Question 1

K - Liquidated Damages

Answer 1

enforced if: (1) amount is difficult to estimate at time the K was formed AND (2) amount is reasonable to actual damages suffered
Valid = only amount is valid

Question 2

UCC Seller’s Remedies & Damages

Answer 2

Remedies: (1) withhold delivery of goods (2) cancel (3) recover cover damages (resale price - K price) (4) market damages (market price) (5) recover lost profits if LVS (6) stop delivery of goods if buyer is insolvent (7) replevin identified goods if buyer is insolvent
Damages: (1) incidental (commercially reasonable cost incurred by breach)

Question 3

Torts- Damages for Trespass to Land

Answer 3

measured either (1) diminution in value of property or (2) cost to repair property

Question 4

Torts - Replevin

Answer 4

allows the recovery of specific personal property and is available if (1) D is wrongfully withholding personal property (2) P has right to possess

Question 5

Purchase Money Resulting Trust

Answer 5

arises when one party provides consideration for purchase of real property, but titles property to another.
Party providing consideration = beneficiary of trust / person holding title = trustee

Question 6

Pro-rata Resulting Trust

Answer 6

arises when one party provides only partial consideration for purchase of property & property is titled in another’s name