Specific Performance and the Direct and Consequential Damages (Essay Sample)

Instructions:

For this week's Case Questions, you must answer four synthesizing questions regarding contracts, the UCC, and sales. Your answer length may vary, but you should have enough to discuss to submit at least a few paragraphs for each question or scenario posed. If sources are requested, you must use APA style and provide in-text citations and a Works Cited page. When referring to a case cited in the text, you do not need to provide a case citation, merely provide the page number that you are referencing.
Please use a legible font style, such as Times New Roman or Arial, with a font size of 12 pt. Double-space the text of your paper and set the margins of your document to 1 inch on all sides.
1. The Madariagas owned a restaurant where they served “Albert’s Famous Mexican Hot Sauce.” They entered into a contract to sell the restaurant and the formula for the secret sauce to Morris. Although Morris paid the agreed-upon price, the sellers refused to give him the recipe unless he also paid them lifetime royalties for the salsa. Which of these remedies should Morris seek: expectation, restitution, specific performance, or reformation? Why?
2. A manufacturer delivers a new tractor to Farmer Ted on the first day of the harvest season. But the tractor will not start. It takes two weeks for the right parts to be delivered and installed. The repair bill comes to $1,000. During the two weeks, some acres of Farmer Ted’s crops die. He argues in court that his lost profit on those acres is $60,000. The jury awards the full $1,000 for the tractor repairs, and $60,000 for the lost crops. Identify the two types of awards (an award is also known as an interest or remedy in this week’s material).
3. Blair Co.’s top officers asked an investment bank to find a buyer for the company. The bank sent an engagement letter to Blair with the following language: “If, within 24 months after the termination of this agreement, Blair is bought by anyone with whom Bank has had substantial discussions about such a sale, Blair must pay Bank its full fee.” Is there any problem with the drafting of this provision? What could be done to clarify the language?
4. What are the advantages and disadvantages of hiring a lawyer to draft or review a contract?

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Content:

Case Questions 2
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Case Questions 2
Question One
In the famous Mexican Hot Sauce case, Specific Performance is the only feasible solution against Madarigas. According to Kanamugire (2015), Specific Performance in business law is the primary remedy when there is a violation of an agreement present for the resentiful party. The case indicates that Morris and Madarigas were involved in a contractual sale where Madarigas promised to sell the restaurant and the secret sauce but failed to act upon payment. Specific Performance allows the jury to authorize the defendant party to perform its promise immediately because the monetary damage might not be sufficient to fix the harm (Kanamugire, 2015). The secret formula, Mexican Hot Sauce, is a unique asset whose damage incurred to the Morris does not require monetary resources to remedy the situation. The restaurant's Performance depends on the special salsa, which Morris paid for. The restaurant patrons are used to consuming the special salsa, making the restaurant perform better than the competitors. Remedying the contract between Morris and Madarigas, it is necessary to involve specific

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Specific Performance and the Direct and Consequential Damages (Essay Sample)

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