DBIA EXAM 3 LATEST 2023-2024 ACTUAL EXAM 200
QUESTIONS AND CORRECT DETAILED ANSWERS WITH
RATIONALES (VERIFIED ANSWERS) |ALREADY GRADED
A+
What is an example of a contract that the Statute of Frauds mandates to
be written? - ANSWER-contracts that are impossible to complete
within one year
"Where a contract does not fix a definite price, there must be a definite
method for _____ it." - ANSWER-ascertaining
What case is this?
- NAVFAC project.
- Party's $5.2 million price used by other party in bid, but the project is
awarded to other.
- Statute of Frauds found applicable. - ANSWER-Trident V. Austin
(2003)
Contracts created by conduct that is contrary to public sector are _____.
enforceable or unenforceable? - ANSWER-unenforceable
What are 2 examples of an unenforceable contract that is contrary to
public policy? - ANSWER-- Duress
- Misrepresentation and Fraud
Which of the following terms may be found contrary to public policy?
a.) Indemnity
b.) Limitations of Liability
c.) Advanced waivers of lien rights.
, DBIA EXAM 3 LATEST 2023-2024 ACTUAL EXAM 200
QUESTIONS AND CORRECT DETAILED ANSWERS WITH
RATIONALES (VERIFIED ANSWERS) |ALREADY GRADED
A+
d.) No damages for delay.
e.) All of the above. - ANSWER-e.) All of the above.
_____ _____: Means of protecting a party who is reliant on someone's
actions. - ANSWER-Promissory Estoppel
What are 2 common examples of Promissory Estoppel? - ANSWER-1.
Subcontractor bids
2. Teaming relationships
What case is this?
- Party sues for lost profits ($3-4 million)
- 5th Circuit found material facts in dispute that allowed party to
maintain a promissory estoppel theory. - ANSWER-Metroplexcore V.
Parsons Transportation Group (2014)
_____ Damages: Award what was reasonably expected from the
contract. - ANSWER-Expectation
_____ _____: When expectation damages not available, award what
party would have had if contract had not existed. - ANSWER-
Rescission Damages
_____ ______ & _____ _____: If contract's subject is unique, a court
may order that the breaching party perform its obligations under that
contract (specific performance) or stop doing something (injunction). -
ANSWER-Specific Performance & Injunctive Relief
_____ _____: Award of a reasonable sum of money (i.e., "what the
claimant deserved") - ANSWER-Quantum Meruit
, DBIA EXAM 3 LATEST 2023-2024 ACTUAL EXAM 200
QUESTIONS AND CORRECT DETAILED ANSWERS WITH
RATIONALES (VERIFIED ANSWERS) |ALREADY GRADED
A+
Damages cannot be speculative, and must be proven to a _____ degree
of certainty. - ANSWER-reasonable
The contract may NOT impose limitations on what can be claimed.
True or False? - ANSWER-False
- Liquidated damages.
- Limitations of liability.
- Improper default terminations.
- No damages for delay.
- Waivers of consequential damages.
These are all examples of Contractual _____. - ANSWER-Limitations
______ Damages: Arise from the consequences of a breach. -
ANSWER-Consequential
_____ Damages create substantial financial exposure if something goes
wrong. - ANSWER-Consequential
Consequential Damages demonstrates the importance of Contractual
______. - ANSWER-Waivers
Consequential Damages are distinct from "_____" Damages. -
ANSWER-Direct
Direct Damages or Consequential Damages?
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