Winston Contracts to Sell a Plot of Land Called Blackacre

question 24

Multiple Choice

Winston contracts to sell a plot of land called Blackacre to Paris for $500,000.Winston breaches the contract and Paris sues him.Blackacre's reasonable market value at the time of the breach was $525,000.Paris can recover:

• A)nothing,for he hasn't really suffered any harm.
• B)nothing,because specific performance is his only remedy here.
• C)only $25,000.
• D)the entire $500,000.

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Definitions:

Elderly

Refers to individuals in a population who are aged, typically defined as being of retirement age or older, often considered 65 years and above in many societies.

Normative Economic Statements

Assertions about what ought to be in the economy, reflecting judgments and prescriptions for economic policy.

Positive Economic Statements

Statements that can be tested and validated; they describe the world as it is versus how it should be.

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A personal view, attitude, or appraisal.