BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is a remedy for a major breach?
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Specific performance
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Monetary damages
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Reassign and restitution
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All of these are remedies for major breach
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Explanation:
Detailed explanation-1: -There are several remedies for breach of contract, such as award of damages, specific performance, rescission, andrestitution. In courts of limited jurisdiction, the main remedy is an award of damages.
Detailed explanation-2: -As a default, the remedies for a breach of a warranty are indemnification, termination (requires a material breach) or proportionate reduction of the purchase price. The purchase agreement usually will limit the remedy for breaches to indemnification.
Detailed explanation-3: -Repossess the goods after the buyer has resold them.is not a remedy available in case of default.
There is 1 question to complete.