Question

ss. Bradford agrees to buy 10 new computers from Sidney for $1,000each. This is a good deal for Bradford since the market price everywhere else for each computer is Sidney breaches his signed contract and fails to deliver any computers to Bradford. No money has been paid yet. A. Bradford is not entitled to damages from Sidney because he took advantage of him. B. Bradford is entitled to $5,000 in damages (the difference between contract price and market price). C. Bradford is entitled to $10,000 in damages, the contract price. D. Bradford is entitled to $15,000 in damages, the market price. $1,500 56. Same facts as question 57. If Bradford sues in a court of equity for specific performance to require Sidney to deliver the computers to him, A. He will win because he is entitled to the 10 computers Sidney agreed to sell to him. B. He will lose because damages are an adequate remedy and courts of equity may only grant extraordinary relief when the court of law's remedy is inadequate. C. He will lose because the computers are neither land nor rare. D. B and C 57. Tim Cruze agrees to star in a movie for which he will be paid $12 million. A few days before filming is set to begin, he is killed in an airplane accident. A. The contract is still valid and Tim's estate will need to find a replacement to perform. B. The contract is partially valid and the producer will need to pay Tim's estate 50% of the $12 million because he had made plans to perform. C. The contract is voidable. D. The contract has been discharged by operation of law (impossibility of performance). 58. Angelina offers to pay $5 million for Ellen's Malibu beach house, which is only worth $4 million. Ellen agrees to sell for $5 million and there is written contract signed by both. No money has been paid yet. A few days after the contract is signed, Ellen tells Angelina that she has changed her mind and doesn't want to sell her house after all. If Angelina sues in a court of equity for specific performance A. She will lose because she was not getting a bargain. B. She will win because land is unique, especially land at the beach. C. She will win because the legal remedy of damages is not adequate. D. B and C.. 69. Zane, a wealthy physician, borrows $100,000 from the bank and signs a contract promising to repay the loan, with interest, in six months. Two months later, Zane dies. A. The contract has been discharged by operation of law (impossibility of performance). B. The contract is void. C. The contract is voidable. D. The contract is fully enforceable against Zane's estate.

Answer 1

Option B since the loss from the contract is till the extent the current market value is greater (for the buyer and lesser for the seller) from the contract price.

OPTION D: B and C specific performance can only hold if there is no adequate compensation which is true only when the item is rare and unique (like land or real estate)

Option D- In case of death performance is impossible, hence contratc is discharged

Option D: as per the explanation above, specific equity performance is applicable for real estate