On August 1, Brian Contractually Agreed to Purchase a Diamond

question 72

Multiple Choice

On August 1, Brian contractually agreed to purchase a diamond from Mila for $100 000.On that date, Brian prepaid 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.Which of the following is an accurate statement?

• A)Brian is entitled to receive restitution of $100 000.
• B)Brian is entitled to receive restitution of $150 000.
• C)Brian is entitled to receive reliance damages of $25 000.
• D)Brian is entitled to receive reliance damages of $75 000.
• E)Brian is entitled to receive expectation damages of $150 000.

Understand the phases of the CFA Institute's investment management process.

Identify the benefits and characteristics of various retirement plans and investment vehicles.

Recognize investment constraints and how they affect portfolio management.

Understand the concept of liquidity and its importance in investment decision-making.

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Definitions:

Extreme Poverty

A condition characterized by severe deprivation of basic human needs, including food, safe drinking water, sanitation facilities, health, shelter, and education.

U.S. Census Bureau

The U.S. Census Bureau is a principal agency of the U.S. Federal Statistical System, responsible for producing data about the American people and economy, including the decennial census.

School Safety/Security

Measures and practices put in place to protect students, staff, and property in educational settings from harm or danger.

Family Involvement

The participation of family members in the education process or other activities, emphasizing the importance of their support and engagement for better outcomes.