Question
Monet makes a contract to sell a rare painting to Van Gogh for $500,000. The written contract specifies that if Monet should fail to perform
Monet makes a contract to sell a rare painting to Van Gogh for $500,000. The written contract specifies that if Monet should fail to perform the contract, he will pay Van Gogh $1,000 as liquidated damages. Monet fails to deliver the painting and is sued by Van Gogh for $1,000. He may recover:
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Business Law in Canada
Authors: Richard A. Yates, Teresa Bereznicki Korol, Trevor Clarke
11th Canadian edition
134312112, 133847136, 978-0134312118, 978-0133847130
