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3 (10 points) Home Owner contracted with Builder for Builder to build a vacation home. The home was to cost $125,000 to build. A day
3 (10 points) Home Owner contracted with Builder for Builder to build a vacation home. The home was to cost $125,000 to build. A day before the work was due to begin, Builder won the lottery. She called Home Owner and said that she (Builder) did not need the money from the construction project anymore, and that she would not honor the contract by doing any construction work. Home Owner was able to find someone else to build the vacation home at a cost of $150,000. If it is shown that Builder breached the contract, what damages could Home Owner expect to receive? a) The cost of completion minus the contract price, $25,000. b) The difference between the market value of the vacation home as completed and the contract price. c) The market value of the vacation home, plus punitive damages against Builder for refusing to start the job without any legal justification. d) The cost of the original contract, $125,000
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