Syed Iqbal Agrees to Purchase a House on a Hill

question 14

Multiple Choice

Syed Iqbal agrees to purchase a house on a hill overlooking a lake from Savia Jahangir for $300,000. The transaction is to close in two months. Just after the agreement is signed, the housing market increases dramatically so that the house is now worth $600,000. Syed wants the house; Savita refuses to complete the deal. Syed does locate a similar house for $600,000, although it lacks the unique view of Savita's house and is not right on the lake. Which of the following statements is true about the remedies available to Syed for breach of contract?

• A)Syed can seek a court order directing Savita to complete the sale.
• B)Syed can only purchase the replacement house and obtain an order that savita pay for the additional cost ($300,000).
• C)Syed can obtain an order requiring Savita to pay the entire value of the replacement house, $600,000.
• D)Syed can sue for both specific performance and damages of $300,000.
• E)Syed had a duty to mitigate his damages, so he can obtain only nominal damages from savita.

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Definitions:

T-Test

An analysis technique designed to assess if the mean values of two separate groups differ significantly.

Sample Size

Refers to the number of observations or data points used in a study or experiment.

Research Hypothesis

A statement predicting the outcome or relationship between variables that is tested through scientific research.

Geography Department

A division within an educational institution focusing on the study of Earth, its features, inhabitants, and phenomena.