Reference no: EM133052703
1) Krug International, an Ohio corporation, had a contract with Iraqi Airways to build aeromedical equipment for training pilots. Krug then contracted for Power Engineering, an Iowa corporation, to build the specialized gearbox to be used in the training equipment for $150,000. Power did not know that Krug planned to resell the gearbox to Iraqi Airways. When Power had almost completed the gearbox, the Gulf War broke out and the United Nations declared an embargo on all shipments to Iraq. Krug notified Power that it no longer wanted the gearbox. Power sued. Please rule.
2) Consequential damages can be many times higher than direct damages. Consider the "Farmer Ted" scenario raised in the multiple-choice section of this review, which is based on a real case. Is it fair for consequential damages to be 60 times higher than direct damages? The Supreme Court is skeptical that punitive damages should be more than nine times compensatory damages in a tort case. Should a similar "soft limit" apply to consequential damages in contract cases?
3) PepsiCo entered into a contract to sell its corporate jet to Klein for $4.6 million. Before the deal closed, the plane was sent to pick up PepsiCo's chairman of the board, who was stranded at Dulles airport. The chairman then decided that the company should not part with the plane. Klein sued PepsiCo for specific performance, arguing that he could not find a similar jet on the market for that price. Should a court force PepsiCo to sell its plane?
4) Is it reasonable to require the mitigation of damages? If a person is wronged because the other side breached a contract, should they have any obligations at all? For example, suppose that a tenant breaches a lease by leaving early. Should the landlord have an obligation to try to find another tenant before the end of the lease?
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: 1) Krug International, an Ohio corporation, had a contract with Iraqi Airways to build aeromedical equipment for training pilots. Krug then contracted for Power
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