Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

3. Mickey hires Donald to perform accounting services for Mickey's business. Donald and Mickey sign a contract under which Donald will perform certain accounting functions

3. Mickey hires Donald to perform accounting services for Mickey's business. Donald and Mickey sign a contract under which Donald will perform certain accounting functions in exchange for the payment of $50 per hour to be paid biweekly. The contract also contains a clause that states Mickey will owe Donald $600 in liquidated damages if Mickey is ever more than ten days late with payment for Donald's services. During October of the current year, Donald performed twenty hours of accounting work for Mickey. Donald invoiced Mickey for the services, and Mickey did not pay within ten days. Donald now wishes to seek the $600 in damages he is owed under the contract on top of the money he is owed for twenty hours of work. Will a court enforce the clause requiring payment of $600? Why or why not? OFW

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

What is database?

Answered: 1 week ago

Question

What are Mergers ?

Answered: 1 week ago