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Which of the following correctly states the holding of the court in Colonial at Lynnfield, Inc. v. Sloan?

Question 1 options:

a)	The liquidated damages clause contained in the contract should be enforced.

b)	The liquidated damages clause constitutes a penalty because it was not a reasonable forecast of damages to be incurred.

c)	The liquidated damages clause constitutes a penalty because damages in the event of a breach would not be difficult to estimate.

d)	The liquidated damages clause should not be enforced because Colonial suffer no actual damage as a result of the breach.

Question 2 (2 points)

Which of the following were reasons for the court's holding in Giannini v. First National Bank of Des Plaines?

Question 2 options:

a)	There was no condominium in existence that could be the subject of a specific performance decree.

b)	Awarding specific performance would be economically disadvantageous.

c)	A specific performance decree would be cumbersome and time-consuming to the court.

d)	None of the above.

Question 3 (2 points)

Which of the following correctly states the conclusion of the court in Hilton v. Nelson?

Question 3 options:

a)	The plaintiff should be awarded specific performance of the contract.

b)	The plaintiff should be awarded damages.

c)	The plaintiff should be awarded both specific performance and damages.

d)	The plaintiff is entitled to neither specific performance nor damages.

Question 4 (2 points)

For a land sale contract, which of the following must be included in a writing sufficient to satisfy the statute of frauds?

Question 4 options:

a)	A description of the land being sold.

b)	Identification of the buyer and seller.

c)	Words indicating an intent to buy or sell the land.

d)	All of the above.

Question 5 (2 points)

Seller contracts to sell Blackacre to Buyer for $250,000. Buyer refuses to proceed with the purchase, and Seller sues Buyer. At trial, Seller establishes that the fair market value of Blackacre is $235,000. To what damages, if any, is Seller entitled?

Question 5 options:

a)

$15,000.

b)

$235,000.

c)

$250,000.

d)	None of the above.

Question 6 (2 points)

Seller contracts to sell Blackacre to Buyer for $250,000. Seller refuses to proceed with the purchase, and Buyer sues Seller. At trial, Buyer establishes that the fair market value of Blackacre is $235,000. To what damages, if any is Buyer entitled?

Question 6 options:

a)

$15,000.

b)

$235,000.

c)

$250,000.

d)	None of the above.