Section III. MULTIPLE CHOICE. (Max. 30 Points)

This section contains 10 multiple choice questions. Choose the response for each question that is most accurate and write its corresponding letter in the space provided. Each correct response in this section is worth three (3) points.

A. _______. Which of the following constitutes the proper measure of legal, consequential damages awarded under the common law for a breach of contract?

1. Benefit-of-the-Bargain damages

2. Incidental damages

3. Liquidated damages

4. Exemplary damages

B. _______. Which of the following is NOT a legal principle under the common law that applies to an offer to contract?

1. The offeree fixes the terms of an offer and manner of acceptance.

2. The offeror may revoke a valid offer at any time.

3. The offeror must manifest an intent to be bound by the offer.

4. The offeror must communicate an offer that is clear with respect to its material terms to be valid.