Reference book Business law: text and cases page 344-345

+ () Page view | A Read aloud Add text | Draw Highlight Erase Case Analysis 19.2 Case Analysis 19.2 on pg. 344, Kent State University v Ford, and answer the questions below. DO NOT USE THE INTERNET. USE ONLY THE TEXT. 1. Kent State University sued Ford to enforce the liquidated damage clause of his contract. Before analyzing this case, it is important to understand the requirements for enforcing a Liquidated Damage clause. What are the requirements for enforcing a Liquidated Damage clause? 2. What facts did the Court of Appeals list to decide if the damages would have been difficult to determine? 3. What facts did the Court of Appeals list to decide if the damages were reasonable? 4. Many contracts for the purchase of Real Estate include Liquidated Damage provisions. That is, the buyer provides a nonrefundable 10% or 20% deposit. If the buyer breaches the contract (refuses or is unable to complete the sale) the buyer loses their deposit. The Standard Damages for when a buyer breaches a real estate contract is the Difference in Price between the Contract Price and the Market Price (what the house would have sold for) at the time of breach. WHY would a seller prefer a Liquidated Damage clause in the real estate contract rather than waiting to see what the property could sell for it the buyer breaches the contract