[jeff]

– The NINJAs are giving away a NINJA MCQ section of the winner’s choice.

– To enter the drawing, simply post an answer – (you don’t have to get it correct to be picked).

– The winner will be randomly selected

– You can gift your winning section to someone else (i.e. people who already passed can participate)

– Deadline: Today – 4pm Eastern

Today’s NINJA MCQ Question:

Kaye contracted to sell Hodges a building for $310,000. The contract required Hodges to pay the entire amount at closing. Kaye refused to close the sale of the building. Hodges sued Kaye. To what relief is Hodges entitled?

A Punitive damages and compensatory damages

B Specific performance and compensatory damages

C Consequential damages or punitive damages

D Compensatory damages or specific performance

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[Gillitl11]

D

[jackaroe]

D

[alesnie]

D

[jeff]

Update:

Answer: D

Hodges is entitled to either compensatory damages or specific performance. The breach of a contract involving the transfer of real estate is one of the few contract situations where a court will order specific performance. In this case, a court could order Kaye to deliver a deed and close the sale.

Compensatory damages are those damages sufficient to compensate or cover the losses incurred as a result of a breach. To award both specific performance and compensatory damages would be awarding double the amount of damages. Generally, unless there is an intentional tort committed as part of the breach, courts do not award punitive damages

***

Winner: Soon2beCPA!

Please email jeff@another71.com and let me know what section of NINJA MCQ you'd like.

Thank you everyone we'll do this again this week.

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[Author]

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