Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
14 Cards in this Set
- Front
- Back
|
Minor Breach |
Non essential term |
|
|
Major Breach |
A breach of the whole contract or an essential term |
|
|
Liquidated Damage |
An amount agreed on to be paid in damages should a party breach |
|
|
ttNominal |
An exorbitant amount to penalize for breach |
|
|
Expectation Damages |
An amount based on based on expected benefits |
|
|
Consequential Damages |
Secondary losses incurred by the non-breaching party thats foreseeable at the time of contracting |
|
|
General Damges |
Non-monetary harm arising from the breach |
|
|
Reliance |
Costs of expenditures and wasted effort reasonably made in preparration for performance |
|
|
Punitive |
Bad faith of breaching party |
|
|
Mental Anguish |
Humiliation or psychological pain |
|
|
Specific Performance |
Defendant to do a contracted for act usually to complete a transaction |
|
|
Injunction |
A court order restraining a party from acting in a particular manner, such as committing a breach of contract |
|
|
Rescission |
Setting aside or rescinding a contract in order to restore parties as nearly as possible to there pre contract positions |
|
|
Quantum Meruit |
The fair amount a person deserves to be paid for the benefit conferred |
