Question
Owner and Contractor contract in writing to build home for $1 million.Contractor reasonably expects to walk away with $100,000 in profits once the home is
Owner and Contractor contract in writing to build home for $1 million.Contractor reasonably expects to walk away with $100,000 in profits once the home is finished.Assume (to make these questions easier, though this would be highly unusual) that homeowner has not and will not pay any money to Contractor until home is complete.Contractor is 1/2 way through building the house and has already spent $450,000 in labor and materials for the house.
(a) At this pointOwner contacts Contractor and tells Contractor to stop building, I can't afford to pay for the house.Contractor stops building and sues Owner.How much will the court award the Contractor and why?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started