Owen and Pablo Enter into a Contract for a Sale

question 62

Multiple Choice

Owen and Pablo enter into a contract for a sale of fifty Western saddles. Pablo pays,but Owen does not deliver. Pablo can normally recover as damages the difference between

• A)any loss avoided and any profit gained.
• B)the actual price and the hoped-for price.
• C)the contract price and the market price.
• D)the current prices in the parties' locations.

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Definitions:

Bearer Instrument

A financial document that is not registered in the name of any owner and thus the physical holder has the right to the document's value or benefit.

Signature

A handwritten or digitally produced mark made by an individual to signify agreement, approval, or identity.

Bank Draft

A check drawn by one bank on another bank in which it has funds on deposit in favor of a third person, the payee. Also called teller’s check.

Assigned

The act of transferring rights or duties under a contract or agreement from one party to another.