Question
1. (a) Describe the THREE (3) differences in Liability between Tort Law and Contract Law. (12 marks) (b) The amount for Liquidated Damages is estimated
1. | (a) | Describe the THREE (3) differences in Liability between Tort Law and Contract Law.
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(12 marks)
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| (b)
| The amount for Liquidated Damages is estimated to be $50,000.00 per day but the client wishes to insert a greater amount of $100,000.00 as a deterrent to the contractor. Explain to the client whether Penalty applies in this case and its implications.
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(10 marks)
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| (c) | The Completion Date and the Date of Substantial Completion of the Main Contract are 10 November 2019 and 23 January 2020 respectively. The Engineer granted a total of 68 days of Extension of time under the Standard Form of Contract. The rate per day of liquidated damages is $122,000.00. Calculate the amount of liquidated damages that may be deducted by the Client. |
(13 marks)
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