Question
Reliable Construction Company contracts with Equerry to build a grandstand at Equerry's racecourse at a cost of $100,000. to have it completed by June 1,
Reliable Construction Company contracts with Equerry to build a grandstand at Equerry's racecourse at a cost of $100,000. to have it completed by June 1, 2021. The contract also states that Reliable will pay Equerry, $5,000 per day for every day it is late completing the grandstand. Reliable is five days late and refuses to pay. Equerry sues Reliable. Who wins and why ?
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Managerial Accounting
Authors: Harold M. Sollenberger, Arnold Schneider, Lane K. Anderson
9th Edition
0538842822, 978-0538842822
