Question: 1. In a situation where a contract that has been breached, the law places a duty on the innocent non breaching party to take reasonable

1. In a situation where a contract that has been breached, the law places a duty on the innocent non breaching party to take reasonable efforts to do this _____

a. Mitigate Damages

b. Agree

c. Comply

d. Sue for damages

2. The four corners rule. Where there is a written contract, this rule bars the introduction of oral evidence (ie prior negotiations) intended to show the parties agreed to something different from the written contract. ________________________.

a.

Doctrine of Promisory Estopple

b.

Statue of Frauds

c.

Parol Evidence Rule

d.

Exculpatory Evidence

3. Money damages, when a contract is breached, to compensate the non breaching party for the loss of ascertainable costs and profits are ______________________damages.

a.

Comparative Damages

b.

Punitive Damages

c.

Compensatory Damages

d.

Monetary Damages

4. Money damages, written into a contract, and agreed to in the contract, to limit damages in the event of a breach are ____________________ damages.

a.

Compensatory Damages

b.

Punitive Damages

c.

Incedential Damages

d.

Liquidated Damages

5. If both parties make a mutual mistake on a contract, due to a drafting error the court will usually allow the parties to _______________________ the contract in order to reflect the true intention of the parties.

a.

Reform

b.

Void

c.

Enforce

d.

Mitigate

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