True/False
Indicate whether the
statement is true or false.
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1.
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An injured party has a duty to mitigate the damages
the breaching party caused.
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2.
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Consequential damages are usually available to an
injured party.
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3.
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Equitable remedies never include monetary
awards.
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4.
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Arbital awards can be appealed.
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5.
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The standard measure for contractual damages is
known as compensatory damages.
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Multiple Choice
Identify the
choice that best completes the statement or answers the question.
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6.
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Quantum Meruit is an example
of
a. | Quasi-contract | c. | Legal
remedies | b. | Equitable remedies | d. | Promissory
estoppel |
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7.
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A contractual clause establishing an amount of
prospective damages for breach is
a. | Mitigation of damages | c. | Against the law | b. | Liquidated
damages | d. | Limitation of damages |
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8.
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An example of an equitable remedy is
a. | Exemplary damages | c. | Consequential damages | b. | Waivers | d. | None of the above |
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