Question
DeCon Inc., a New Jersey Corporation, whose shares are traded on the New York Stock Exchange, is licensed to do business in the State of
DeCon Inc., a New Jersey Corporation, whose shares are traded on the New York Stock Exchange, is licensed to do business in the State of New York. Agrico Co. contracted with DeCon to have their main office complex built just outside Poughkeepsie, New York at a cost of $12,000,000. The contract called for DeCon to begin work on June 1, 2016 with completion of all work to be accomplished by May 31, 2017. The two corporate cultures were not compatible. By September, the managers at Agrico were complaining that none of the work was being done according to the specifications. In January, 2017, Agrico ordered DeCon to stop the construction. DeCon decided to sue. They had expended $3,000,000 in materials and labor and had an anticipated profit from the job of $1,800,000. If it is shown that Agrico breached the contract, to what damages is DeCon entitled?
- A.$4,800,000.
- B.0. Nothing. Or, maybe $1.00. They didn't complete the job. This is a case for nominal damages.
- C.$1,800,000.
- D.$3,000,000.
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