In Which of the Following Cases Will a Court Order

question 26

Multiple Choice

In which of the following cases will a court order specific performance of the contract?
i.Gigantic Electrical Warehouse repudiates its contract with Video Co.to purchase 2,000 VCRs.The loss of this deal might push Video into bankruptcy.
ii.Joan,a great opera singer,decides it is too far from New York to the National Arts Centre in Ottawa and so she will not perform at the sold-out concert there next week for which she had contracted months ago.
iii.Mitsuko had a contract with Refined Galleries to purchase a small Rembrandt drawing,which Refined wants now to sell to a regular and very wealthy customer of theirs.They will not give Mitsuko the drawing.
iv.John is refusing to perform a contract to sell his house to Eli.Eli has wanted to live in that house since he was a small boy.
v.Eli is refusing to perform a contract to purchase John's house.John has another purchaser but her highest offer is $10,000 less than Eli's.

• A)iii and iv.
• B)i,iii and iv.
• C)i,iii,iv and v.
• D)i,ii,iii and iv.
• E)All of the responses are correct.

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Definitions:

Premiums

Payments made for insurance coverage, often periodically to maintain the insurance policy.

Beneficiary

An individual or entity chosen to receive benefits or assets from a will, insurance policy, or trust.

Coinsurance

An insurance policy provision under which the insurer and the insured share costs, after the deductible is met, according to a specific formula.

Insured

A person or entity covered by an insurance policy, protecting them against financial loss from specified risks.