Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

York signed a contract to rent a house, which includes a clause, if York fails to pay weekly rent, he will have to pay a

York signed a contract to rent a house, which includes a clause, if York fails to pay weekly rent, he will have to pay a fine of $1000 besides the normal rent in the next week. York thinks it is not according to the aim of an award of damages for breach of contract. What aim does he refer to? Damages are awarded:

a. To punish the party who has breached the contract.

b. To restore the innocent party to the position they were in before the contract was made.

c. To ensure that the party who has breached the contract suffers a reasonable penalty.

d. To put the innocent party in the same financial position they would have been in if the contract had been properly carried out.

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

Cost Determination A Conceptual Approach

Authors: Joel S. Demski

1st Edition

0813803608, 978-0813803609

More Books

Students also viewed these Accounting questions