1. What determines the obligations of sellers/lessors and buyers/lessees?
2. Explain what the good-faith and commercial reasonableness obligations are.
3. Go back in the chapter and look at Webster v. Blue Ship Tearoom. Can you think of other situations today for which this case might serve as legal precedent?
4. Define and differentiate between liquidated, consequential, and punitive damages. Make the argument for why punitive damages should or should not be permitted in intentional breach of contracts.