1. When only one party has made a mistake about a material fact the law considers this to be: a.) a unilateral mistake b.) a bilateral mistake c.) negligent misrepresentation d.) fraud in the inducement
2. The primary legal remedy for breach of contract is: a.) money damages b.) specific performance c.) contract cancellation d.) reformation of contract terms
3. Contracts can be discharged for changed circumstances if there exists: a.) impossibility b.) frustration of purpose c.) commercial impracticability d.) all of these
4. To be recoverable consequential damages must be: a.) foreseeable b.) speculative c.) convincing d.) none of these
5. Liquidated damages are damages agreed to: a.) in advance b.) during performance c.) after performance d.) none of these