Question
Cameron is entering into a contract to have a new cottage built.Cameron is very anxious to ensure the cottage is completed by July 1 so
Cameron is entering into a contract to have a new cottage built.Cameron is very anxious to ensure the cottage is completed by July 1 so he can spend the upcoming summer relaxing at his new cottage.Matthew agrees to build the cottage for the total price of $150,000.Matthew and Cameron enter into a written contract that contains all of the details related to the construction of the cottage.Cameron insists on inserting a term that states, "In the event the cottage is not completed by July 1, Matthew shall pay liquidated damages of $1,000 to Cameron. (this is the cost of renting a cottage for 1week) .Matthew is hesitant to sign the contract, but eventually he does sign, as he is confident he can finish the cottage long before July 1.Matthew runs into some unanticipated problems and does not finish the cottage until July 5.Cameron sues Matthew for breach of contract and wins.Will the court award Cameron $1,000 as specified in the contract?
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