Question 23 (Mandatory) (2 points) The rule of mitigation of damages requires that the party injured by the other party's breach of contract must: O A) take reasonable steps possible to reduce the damages that will be sustained because of the breach (B) take any and all steps possible to reduce the damages that wil be sustained because of the breach OC) discharge the contract before filing suit (D) hire someone else to perform the contract Question 24 (Mandatory) (2 points) In the event of a contract breach where the victim suffers a loss, the damages that are typically recoverable to put the victim in the place he or she would have been in had the contract been performed are called: ( A) liquidated damages (B) compensatory damages MacBook ProQuestion 24 (Mandatory) (2 points) In the event of a contract breach where the victim suffers a loss, the damages that are typically recoverable to put the victim in the place he or she would have been in had the contract been performed are called: O A) liquidated damages OBJ compensatory damages OC) punitive damages (D) restitution Question 25 (Mandatory) (2 points) Equipment attached to a rented building by a tenant and used in business is: O A) called a trade fixture and NOT ordinarily removable by the tenant (B) called a trade fixture and ordinarily removable by the tenant O C) called a commercial fixture and NOT ordinarily removable by the tenant MacBook ProQuestion 25 (Mandatory) (2 points) Equipment attached to a rented building by a tenant and used in business is: O A) called a trade fixture and NOT ordinarily removable by the tenant O B) called a trade fixture and ordinarily removable by the tenant O C) called a commercial fixture and NOT ordinarily removable by the tenant OD) called a business fixture and ordinarily removable by the tenant Question 26 (Mandatory) (20 points) THIS ESSAY IS MANDATORY. YOU MUST COMPLETE ALL PARTS. Where there is a controversy or dispute, in addition to stating a conclusion about the winner, you must correctly IDENTIFY THE ISSUE, STATE THE RULE and APPLY THE FACTS TO THE RULE. Luke makes a contract to sell a rare painting to Ellen for $100,000. The written contract enarifles that if luke should fail to doliver the painting he will pay Ellen MacBook Pro