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

question 18

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

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Definitions:

Good

A material item or service that can be bought, sold, or traded to satisfy a want or need.

Opportunity Cost

The value of the next best alternative forgone as the result of making a decision.

Optimum

The most favorable condition or level at which the best possible outcome or maximum efficiency is achieved.

Sweater

A knitted garment typically covering the upper body, designed for warmth or fashion.