Which one of the following statements regarding proof of the value of real estate is not correct?
|
A |
The standard of valuation in contract cases is by and large market value. |
|
B |
Many courts allow a landowner to testify as to the value of his property. |
|
C |
When market value does not fully compensate for the peculiar use of the property by the owner, the standard used is “value to the owner.” |
|
D |
Offers to purchase property are admissible as proof of value. |
Which one of the following statements regarding the doctrine of avoidable consequences (i.e., the duty to mitigate damages) is not correct?
|
A |
Mitigation efforts must be successful for a party to show they have properly mitigated their damages. |
|
B |
A party seeking damages must make reasonable efforts to mitigate damages. |
|
C |
The wronged party need not act if the cost of avoidance would involve unreasonable expense. |
|
D |
The burden is on the breaching party to prove that the aggrieved party failed to mitigate. |
In which one of the following cases did the court state that criticism of UCC section 2-708 allowing lost profits to a “lost volume seller” has not resulted in any revision of the section?
|
A |
`Mader v. Stephenson |
|
B |
Hessler v. Crystal Lake Chrysler-Plymouth, Inc. |
|
C |
National Controls, Inc. v. Commodore Business Machines, Inc. |
|
D |
Protectors Insurance Service Inc. v. United States Fidelity & Guaranty Company |
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