Vladimir Entered into a Contract to Buy Daniel's Collection of Rare

question 14

Multiple Choice

Vladimir entered into a contract to buy Daniel's collection of rare stamps.Vladimir mailed payment of $10,000 for the stamps to Daniel, but now Daniel tells Vladimir, "I'll never part with these stamps." Are the following remedies available to Vladimir?

• A) Restitution: No; Specific Performance: Yes
• B) Restitution: No; Specific Performance: No
• C) Restitution: Yes; Specific Performance: Yes
• D) Restitution: Yes; Specific Performance: No

---

Definitions:

Market Price

The current price at which an asset or service can be bought or sold, determined by supply and demand dynamics in a competitive market.

Small Number

A numerical value that is considered to be less than the expected or average size or amount.

Individual Producer

A single entity or person that creates goods or services to offer in a market.

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity of that good consumers are willing to purchase at various prices.