Why choose us?

We understand the dilemma that you are currently in of whether or not to place your trust on us. Allow us to show you how we can offer you the best and cheap essay writing service and essay review service.

Fundamentals of Business law

Fundamentals of Business law

Business law case study questions

  1. What is the difference between an assignment and a delegation?
    Assignment is actually the transfer of all the rights under a particular contract to a specific third
    party. The assignee takes over the rights of the assignor. Delegation is the actual transfer of
    duties in a contract to a specific third party known as the delegate who takes over the duties of
    the delegator.
  2. What rights can be assigned despite a contract clause expressly prohibiting assignment?
    Generally all the rights in a contract can be assigned except in very special circumstances.
  3. How are most contracts discharged?
    Most contracts are discharged by strict or complete performance. These is a situation where are
    the parties to a contract have performed their obligation to the satisfaction of both parties or have

Business Law 2
done their part under the terms of the contract or agreement. The ways in which a contract can
come to an end is through agreement, bankruptcy or destruction of the subject matter i.e.
frustration of purpose.

  1. What is a contractual condition and how might a condition affect contractual obligation?
    A contractual condition is a major component of the contract and its breach discharges the other
    party from their contractual obligations.
  2. What’s the difference between compensatory damages and consequential damages? What are
    nominal damages, and when do courts award nominal damages?
    Compensatory damages are the remedies available to non breaching party in a contract for loss
    of bargain. The court attempts to return the aggrieved party to the position he would have been
    had the contract been performed. Consequential damages are those damages that result from
    special conditions or circumstances that are relatively beyond the contract. The damages
    basically flow from the results or circumstances of the breach. For an action of consequential
    damages to succeed then the damages must be reasonably foreseeable result of the breach of
    contract and the other party being sued must have known that a special circumstance exists and
    can cause the aggrieved party to incur additional expenses on the breach. Nominal damages are
    those damages that are small in amounts for instance payments amounting to one dollar and are
    basically awarded because a breach has actually occurred but there is no real injury that the
    plaintiff has suffered. (Cengage, 2012)
    2What is the standard measure of compensatory damages when a contract is breached? How are
    damages computed differently in construction contracts?

Business Law 3
The standard is the loss of bargain had the contract been performed to its conclusion. The loss of
benefit had the contract been performed. For instance the breach of contracts for sales the
measure would be the actual difference between the market price of the good and its contract
price. In construction contracts, the stage of construction of the contract and the party that’s
breaching the contract determines the compensatory damages

  1. Under what circumstances is the remedy of rescission and restitution available?
    Rescission is a remedy that’s available when a contract has been cancelled and all the parties to
    the contract need to be restored back to their initial or original position. Restitution is available
    when a contract has been rescinded and the parties concerned must make restitution to respective
    parties by returning each other’s possessions. It’s meant to prevent unjustified practices.
  2. When do courts grant specific performance as a remedy?
    This remedy is available to parties in special situations and is only granted when the contracts
    involved deal in unique items or land and when compensation in monetary terms would be
    inadequate. It’s available when contracts for personal services are breached.

Business Law 4


Cengage (2012) The Fundamentals of Business Law, 9 th Edition.

All Rights Reserved, scholarpapers.com
Disclaimer: You will use the product (paper) for legal purposes only and you are not authorized to plagiarize. In addition, neither our website nor any of its affiliates and/or partners shall be liable for any unethical, inappropriate, illegal, or otherwise wrongful use of the Products and/or other written material received from the Website. This includes plagiarism, lawsuits, poor grading, expulsion, academic probation, loss of scholarships / awards / grants/ prizes / titles / positions, failure, suspension, or any other disciplinary or legal actions. Purchasers of Products from the Website are solely responsible for any and all disciplinary actions arising from the improper, unethical, and/or illegal use of such Products.