On August 1, Brian Contractually Agreed to Purchase a Diamond

question 53

Multiple Choice

On August 1, Brian contractually agreed to purchase a diamond from Mila for $100 000. On that date, Brian pre- paid half of the purchase price and promised to pay the other half upon delivery. Mila promised to deliver the diamond to Brian on October 1. The diamond has a unique size and shape. In anticipation of receiving it, Brian spent $25 000 on a custom- made ring that could accommodate the diamond. On September 1, political revolutions in several diamond producing countries disrupted the flow of diamonds. The diamond that was the subject of Brian and Mila's contract consequently increased in value to $150 000. Mila therefore refused to deliver the diamond to Brian. Brian is entitled to receive

• A) reliance damages of no more than $75 000.
• B) expectation damages of $150 000.
• C) restitution of $100 000.
• D) reliance damages of no more than $25 000.
• E) restitution of $150 000.

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Definitions:

Mental Patients

Individuals receiving treatment for mental health issues, typically diagnosed with one or more psychiatric conditions.

Cognitive Dissonance

The psychological discomfort experienced when holding conflicting beliefs, values, or attitudes, often leading to changes in beliefs or behaviors to reduce the dissonance.

ELM

The Elaboration Likelihood Model, a theory in social psychology explaining how people are persuaded, emphasizing the importance of the message's elaboration.

Dissonance

Dissonance refers to a state of conflict or inconsistency between one's beliefs, ideas, or actions, often leading to discomfort and prompting a change to reduce the inconsistency.