On April 1ˢᵗ Ken Entered into a Contract with John

question 41

Multiple Choice

On April 1ˢᵗ Ken entered into a contract with John to buy a rare 1983 L3 Corvette (the only one ever built) for a price of $500 000 to be picked up on April 15.On that same date,Ken paid a deposit of $100 000 with the balance due upon delivery.In preparation for the transportation of the Corvette,Ken spent $50 000 on a special cargo container.On April 5,the Arab Prince Alwaheed offered John $1 million for the Corvette,stating that the Corvette is worth at least $750 000 and to sell it for $500 000 would be foolish.John sold the Corvette to Prince Alwaheed and is refusing to release the vehicle to Ken.Ken's best course of action is to

• A)sue for reliance damages in the amount of $150 000.
• B)sue for expectation damages in the amount of $500 000.
• C)sue for expectation damages in the amount of $1 million.
• D)sue for reliance damage in the amount of $150 000 and expectation damages in the amount of $350 000.
• E)sue for specific performance.

---

Definitions:

Completed Goods

Finished products ready for sale or distribution, produced from raw materials through the manufacturing process.

Completed Goods

Finished products that are ready for sale or distribution, having passed through all stages of production.