Fortuna Enters into a Contract to Buy Fifty Acres from Garrison

question 68

Multiple Choice

Fortuna enters into a contract to buy fifty acres from Garrison to expand Fortuna's farm. Garrison breaches the contract. Fortuna's normal remedy is

• A)damages.
• B)reformation.
• C)rescission.
• D)specific performance.

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Definitions:

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they can be used simultaneously by more than one person without diminishing availability to others.

Private Goods

Goods that are excludable and rival in consumption, meaning their use by one person prevents use by another.

Nonrival

A characteristic of a good whereby one person's consumption does not diminish the availability of that good for consumption by others.

Television Programs

Scheduled content broadcasted on television, including series, movies, news, and other forms of entertainment or information.