NON-MONETARY REMEDIES

Question 1

List of Non-Monetary Remedies

Answer 1

1) Specific Performance
2) Rescission
3) Reformation
4) Reclamation

Question 2

Non-Monetary Remedies:

Specific Performance

Answer 2

Typically limited to real estate and sale of unique goods, but never for services.
Requirements: 
1) Valid K;
2) Conditions satisfied:
3) Inadequacy of legal remedies; 
4) Mutuality; and
5) Feasibility of enforcement.

Question 3

Non-Monetary Remedies:

Rescission

Answer 3

Cancels K.
Grounds for rescission: mutual mistake or unilateral mistake if non-mistaken party would suffer undue hardship or knew of mistake.
No negligence.

Question 4

Non-Monetary Remedies:

Reformation

Answer 4

Changes written agreement to conform to parties’ original understanding.
Requirements: valid K, grounds for reformation.
No negligence, Statute of Frauds, Parol Evidence Rule.

Question 5

Non-Monetary Remedies:

Reclamation

Answer 5

Right of unpaid seller to get goods back.
Only if Buyer was insolvent at time of receipt and Seller makes demand for return within 10 days of buyer’s receipt or reasonable time if buyer gives express representation; and buyer has goods at time of demand.