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To which of the following common law contracts will the statue of
frauds best apply?
10.
Gadgetbug Corp. and Alba Inc. are two companies that have entered into
a contract. According to the terms of this contract, if any one party
breaches the contract, it will pay the nonbreaching party a fixed amount
of $50,000. What type of remedy for contract breaches is best illustrated
in the scenario?
11.
In the context of remedies to breach of contract, what is true about
compensatory damages?
12.
Identify the type of remedy for contract breaches in which a
nonbreaching party also recovers damages for foreseeable indirect losses.
13.
Identify the type of equitable remedy in which a court orders a party to
refrain from taking a particular action.
14.
Adrian, who runs a café, has a contract with Mariam, who is a supplier.
The contract states that Mariam will provide hundred cartons of cocoa
powder to Adrian every week for a set price. However, after making the
contract, Mariam realizes that there is an error in it. The price is much
lower than had been agreed. Mariam decides to have the terms of
contract changed. The court rules that the price term of the contract be
revised. What type of remedy is illustrated in the scenario?
15.
What is true about specific performance as an equitable remedy for
contract breaches?
16.
What is true about the formation of a sole proprietorship?
17.
Identify the true statement about general partnerships.
18.
Anita and Sameera own a salon together. Anita manages the business
and takes management decisions herself. On the other hand, Sameera