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41 10 pts Melissa Faraj owns a lot and wants to build a house according to a particular set of plans and specifications. She solicits
41 10 pts Melissa Faraj owns a lot and wants to build a house according to a particular set of plans and specifications. She solicits bids from building contractors and receives three bids: one from Carlton for $160,000, one from Feldberg for $158,000, and one from Siegel for $153,000. She accepts Siegel's bid. One month after beginning construction of the house, Siegel contacts Faraj and tells her that because of inflation and a recent price hike for materials, his costs have gone up. He says he will not finish the house unless Faraj agrees to pay an extra $13,000. Can a contractor ever raise the price of completing construction based on inflation and the rising cost of materials? What are the general principles regarding duties and promises in this case? What are some exceptions to the general rules, and do any of the exceptions apply to the facts of this case? Your answer should be at least 10 sentences and cover all elements of the issues
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