Cases Subsequent to AG V

question 12

Multiple Choice

Cases subsequent to AG v. Blake (2000) have clarified some points. Which of the following is false?

• A) The justification of the remedy given in AG v. Blake is to protect claimants from inadequate contract remedies.
• B) The remedy of account of profits is 'gain-based' in that it is aimed at stripping the contract-breaker of the profits made from his breach.
• C) The remedy of account of profits is merely an extreme of the Wrotham Park remedy, which awards the claimant the sum he would have negotiated to release the defendant from his contractual obligation (loss of bargain damages).
• D) The remedy may be less than a full account of profits. It must take account of all the circumstances in assessing the claimant's loss of bargain.

---

Definitions:

Standardized Product

Products that are uniform in quality and performance, produced in large quantities, and often interchangeable with products from different manufacturers.

Nonprice Competition

A marketing strategy where companies compete on factors other than price, such as product quality, service, or branding.

Easy Entry

Market condition where there are few if any barriers for new firms to enter and compete in an industry.

Homogeneous Products

Goods that are perfect substitutes for each other; they are identical in quality, function, and appearance.