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MGMT 0130 (21)
Lecture 16

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University of Manitoba
Mangement (Extended Ed.)
MGMT 0130
Glynda White

- Susan contractually agreed to sell a particular computer to Davor for $5000. Although Davor paid the money, Susan refuses to actually give him the computer. A court will likely award monetary damages, rather than specific performance, to Davor because  monetary damages will provide Davor with an adequate remedy - Savannah agreed to buy a car from Rhett for $10 000. Savannah paid the price, but Rhett refused to perform the contract after he discovered that the vehicle was really worth $17 000. At the time that the contract was created, neither he nor Savannah was aware of the vehicle's actual value. Which of the following statements is TRUE?  none of the above - Which of the following statements is TRUE  Damages in contract are usually forward-looking because the courts want to protect the fact that promises are valuable only if they will be kept in the future - Luis contractually agreed to sell a widget to Monica for $20 000. Monica accepted delivery of the widget, but has paid only $13 000. Although neither party realized it when they created their contract, the widget is actually worth $23 000. A court will order Monica to pay Luis  $7000 - Joshua contractually agreed to sell a widget to Maya for $50 000. Before the sale was completed, however, Maya announced that she no longer wanted the widget. She therefore refused to accept delivery of it or to make any payment. The widget is really worth $55 000. There are several other parties who are willing to buy it from Joshua at that price. At the time of entering into his contract with Maya, however, Joshua thought that the widget was worth $60 000. He therefore thought that he would earn a profit of $10 000 under the contract. A court will order Maya to pay Joshua  none of the above - Armand contractually agreed to sell a widget to Melanie for $100 000. However, she refused to accept delivery of the widget or to pay the contract price because the widget is really worth $80 000. Britt then offered to buy the widget from Armand for $80 000, but he rejected that offer. If Armand claims expectation damages, a court will order Melanie to pay him  $20 000 - The victim of a breach of contract is entitled to  enforce a contractual term regarding liquidated damages, but not penalties - The monetary value of expectation damages may be
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