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MisconceptionObserved in bank

Reliance Equals Market Value

This trap appears as a wrong-answer choice in 1 active question. Spotting how it is built is the repair: read each example's “why it's attractive” before the “why it's wrong.”

Subject distribution

  • Contracts1

Example wrong choices

  • 17173_road_to_emmaus_puzzle_quest · CONTRACTS · Choice A$7,800, the difference between the reasonable value of the work and the agreed fee.

    Why it's attractive

    The student sees two dollar figures and tries to do bar-exam arithmetic. The breaker is that no rule in this call asks for the difference between value and price.

    Why it's wrong

    A invents a spread recovery from two stem numbers. The call asks for proper contract recovery, not a market-value-minus-price calculation.

    Spot it next time

    Ask which number the contract itself makes legally operative.

  • 17173_road_to_emmaus_puzzle_quest · CONTRACTS · Choice BNothing, because once Mary fully performed, reliance damages are unavailable.

    Why it's attractive

    The student correctly senses that reliance is not the winning remedy label. The breaker is that the answer skips the contract-price recovery and therefore answers the wrong subquestion.

    Why it's wrong

    B reacts to the bad reliance label but skips the contract-price recovery that remains.

    Spot it next time

    After rejecting reliance, identify the affirmative recovery still available.

  • 17173_road_to_emmaus_puzzle_quest · CONTRACTS · Choice D$20,400, because reliance damages always use the reasonable value of services.

    Why it's attractive

    The student wants to award the higher value because Mary gave work worth more than the bargain. The breaker is the Gold Key: after full performance, fixed contract price controls over reasonable-value bait.

    Why it's wrong

    D overclaims with 'always' and misuses reasonable value as a higher reliance measure.

    Spot it next time

    Apply the bargain-price Gold Key when fixed price and full performance appear together.

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