Restitution Is

question 62

Multiple Choice

Restitution is

• A)a cause of action that sometimes is available in a contractual context.
• B)a remedy that may require the defendant to give up a benefit that it acquired from a third party as a result of committing a wrong against the plaintiff.
• C)another appropriate name for an account of profits.
• D)never able to exceed the value of expectation damages.
• E)available as a remedy for unjust enrichment.

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Definitions:

Shareholders' Equity

The residual interest in the assets of a corporation after deducting its liabilities, representing the owners' claim on the company's assets.

Account Balances

The amount of money in a financial repository, such as a bank account, at any given time.

Retained Earnings

The portion of a company's profit that is held back and not distributed to shareholders as dividends, to be reinvested in the business or used to pay off debt.

Contractual Loan Restrictions

Clauses in a loan agreement that limit the borrower's actions in certain ways to reduce the lender's risk.