Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Contract Scenario 2: A contractor agreed in writing to build a house on an owner's land for $300,000. The contractor's expected cost to complete
Contract Scenario 2: A contractor agreed in writing to build a house on an owner's land for $300,000. The contractor's expected cost to complete the project was $200,000. Before paying the contractor anything, the Owner changed her mind and repudiated the contract after the contractor spent $50,000 on construction costs for the house. The value to the Owner of the partially completed house is $40,000. A. What amounts can the contractor claim (1) as compensatory (or expectancy) damages, (2) as reliance damages, and (3) as restitution damages? (Assume that the contractor can recover damages under only one of each of the theories set forth in (1), (2) and (3) above, i.e. that each is a non-cumulative remedy).
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started