Part One—True or False (2 points each)
Part Two—Fill in the Blanks (2 points each)
(19) A ______________________ damages provision in a contract specifies that a certain dollar amount is to be paid in the event of a future default or breach of contract.
(20) If a plaintiff wins a breach of contract case, but is unable to prove he was damaged by the breach, the court will typically award ________________________ damages.
(21) The essential feature of the agreement to void a contract on the grounds of ____________________________ is that the party being taken advantage of did not exercise free will in entering into the contract.
(22) When a condition operates to terminate a party’s promise to perform under a contract, it is called a condition __________________________.
(23) A condition that must be fulfilled before a party is required to perform under a contract is called a condition __________________________.
(24) To be valid, an offer must be communicated to the _______________.
(25) A _____________is a rejection of an offer and the simultaneous making of a new offer.
(26) A contractor who completes a building to specification but is one week late in completing the building has ____________performed the contract.
Part Three—Problems (8 points each)
E. Garage Doors of Rockville contracts to purchase $50,000.00 worth of remote garage openers from Remotes R US. Remotes R US fails to deliver on the contract. Garage Doors purchases the garage door openers from another vendor for $55,00.00. Two months later, Remotes R US attempts to deliver the openers and Garage Doors of Rockville refuses delivery. Remotes sues Garage Doors for $50,000.00. Garage Doors counter-sues for $50,000.00 plus its attorney fees. Who will prevail and what amount of damages will be awarded?
F. Andrea is a real estate agent with a thriving business selling houses, but Andrea does not have a license as required by the State of Virginia. Andrea and George agree that Andrea will attempt to sell George’s house for him in exchange for a commission of 6% of the selling price. Andrea sells the house for George, but now George learns that Andrea did not have a real estate license and refuses to pay her the agreed commission. Andrea sues George for the commission. Who will prevail? Why?
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