Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 19 (2 points) The City of Bemidji, Minnesota, enters into an agreement with a contractor to replace a water main pipe. The contractor agrees

image text in transcribed

Question 19 (2 points) The City of Bemidji, Minnesota, enters into an agreement with a contractor to replace a water main pipe. The contractor agrees to finish the work by June 15. The agreement states that the contractor will have to pay $10,000 per day for each day the work is finished late. This is an example of Lost profits. Nominal damages. Liquidated damages. Direct damages. Question 20 (2 points) Bernd contracts to custom-build a car for Danielle for $50,000. Danielle repudiates the contract before either party has done anything in reliance on it. It would have cost Bernd $40,000 to build the car. What is the amount of damages Bernd can claim? $40,000 $50,000 $10,000 $60,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Using QuickBooks Accountant 2018 For Accounting

Authors: Glenn Owen

16th Edition

0357042085, 9780357042083

More Books

Students also viewed these Accounting questions

Question

What were some of the team roles at Casper?

Answered: 1 week ago

Question

What were some of the team norms at Casper?

Answered: 1 week ago