81.) A release does not need to be supported by separate consideration. True or False.

82.) Myers, Inc. entered into a contract with Stairway Inc. Stairway was to manufacture a hydro-powered generator. The generator was to be delivered by September 15. The contract contained the following provision:

"Damages. Stairway, Inc. will pay Myers, Inc. $500 per day for each day after September 15 that delivery of the generator is delayed."

The damages provision is called:

A. a liquidated damages clause.

B. a compensatory damages clause.

C. a nominal damages clause.

D. an accord and satisfaction clause.

83.) Bert and Ernie decide that they do not want to go through with their contract involving the manufacture of neon hula-hoops. Such a voluntary, mutual surrender, and discharge of contractual rights and duties whereby the parties are returned to the original status quo is known a

A. complete performance.

B. rescission.

C. release.

D. reformation.

84.) The most common award in a breach of contract action is:

A. punitive damages.

B. rescission.

C. compensatory damages.

D. exemplary damages.

E. punitive damages.

85.) Bernice contracts to buy "Land's End," a beach cottage on Lake Michigan. When the seller refuses to convey the property to Bernice, Bernice ordinarily can:

A. sue for punitive damages.

B. receive no relief because the law will refrain from forcing a person to sell if he or she is unwilling to do so.

C. sue for reformation.

D. sue for specific performance.

86.) Joe ordered a carload of tomatoes from Fred for use in his restaurant. When the tomatoes arrived, they were too ripe for use in Joe's business, although they would be usable for canning purposes. Joe therefore called Fred in order to enable Fred to transport the tomatoes to Fresh-Veg Cannery before the tomatoes deteriorated further. Joe's taking positive actions to prevent damages from increasing is called:

A. a delegable duty.

B. a constructive condition.

C. mitigation of damages.

D. prima facie unconscionable conduct.

E. a renegotiation of terms.

87.) Julian hires Evan to paint his portrait. Evan begins the portrait but becomes upset with Julian and refuses to finish the painting. If Julian sues Evan to require him to finish the painting, it is a suit for

A. an injunction.

B. reformation.

C. specific performance.

D. restitution.

E. wrongful termination.

F. fraud.

88.) Hadley v. Baxendaledealt with which type of damages?

A. Consequential.

B. Punitive.

C. Nominal.

D. Compensatory.

E. Putative.

89.) _____________ is a definite statutory time period during which the plaintiff must commence a lawsuit or be barred forever.

90.) ______________ is an unequivocal indication in advance by one of the contracting parties, prior to the time that performance is due, that he or she does not intend to abide by the terms of the contract.