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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