On March 1, Joe Contractually Agreed to Purchase an Antique

question 68

Multiple Choice

On March 1, Joe contractually agreed to purchase an antique family heirloom from his cousin, Maureen, for $40 000.Joe paid half of that price immediately and promised to pay the other half upon delivery.Maureen promised to deliver the heirloom on May 1.On April 1, another member of the family discovered that the heirloom had not belonged to a famous ancestor, as everyone had believed, but rather to that person's half-brother.The market value of the heirloom consequently dropped to $10 000.Maureen nevertheless refuses to deliver it as promised.Which of the following is an accurate statement?

• A)Joe is entitled to receive expectation damages of $40 000.
• B)Joe is entitled to receive expectation damages of $10 000.
• C)Joe is entitled to receive expectation damages of $30 000.
• D)Joe is entitled to receive reliance damages of $20 000.
• E)Joe is entitled to receive restitution of $20 000.