Examine what distinguishes liquidated damages from punitive

Assignment Help Business Management
Reference no: EM1375493

Liquidated Damages

Carnack agreements to sell his house and lot to Willard for $100,000. The terms of the agreement call for Willard to pay 10% of the purchase price as a deposit toward the purchase price or as a down payment. The terms further specify that should the buyer breach the contract, Carnack will recall the deposit as liquidated damages. Willard pays the deposit but for the reason that her expected financing of the $90,000 balance falls through she breaches the contract. Two weeks later Carnack vends the house and lot to Balkova for $105,000. Willard demands her $10,000 back however Carnack refuses claiming that Willard's breach and the contract terms enable him to keep the deposit. Deliberate who is correct.

Validate your answer using information from your reading and be sure to:

Deliberate the elements of liquidated damages.

Examine what distinguishes liquidated damages from punitive damages as well as discuss whether or not the penalty be assessed in the above case. As well do analysis if the house was sold for 75,000 instead of 105,000

Reference no: EM1375493

Questions Cloud

Deliberate the major differences between cost-reduction : Deliberate the major differences between cost-reduction and profit-sharing program including the philosophic issues underlying each kind of program. Provide instances of each
Evaluate the npv for this project. should it be undertaken : Evaluate the NPV for this project. Should it be undertaken  -The owner's cost of capital is based on the subsequent:
Modern business discussion promotion and pricing strategies : Modern business discussion Promotion and Pricing Strategies & quot Estimate the situation of the Southwest airlines organization.
Evaluate the npv and the profitability index : Evaluate the NPV, and the Profitability Index(PI) for this project. Should this project be undertaken?
Examine what distinguishes liquidated damages from punitive : Examine what distinguishes liquidated damages from punitive damages as well as discuss whether or not the penalty be assessed in the above case. As well do analysis if the house was sold for 75,000 instead of 105,000
Create journal entries in the general fund : What amount of property tax revenue could the county report in its government-wide statements for 2012 and 2013? Describe.
Describe the concept of the product life cycle : Describe the concept of the product life cycle as well as apply this to one product or service of your company. Comprise the strategic implications of being in this stage of the PLC.
Evaluate elasticity along this portion of the curve : Use formula for arc elasticity to evaluate elasticity along this portion of the curve.
Describe how cause-related marketing impacts : Describe how cause-related marketing impacts the company's image, positioning and profitabilit

Reviews

Write a Review

 

Business Management Questions & Answers

  Professional staff in your organization

Commuication - Prepare a memo that might be sent to the professional staff in your organization

  Evaluate the performance of your implemented strategies

Evaluation and Control: How do you evaluate the performance of your implemented strategyies and  Analysis of Strategic Factors. Since you are aware that your analysis of strategic factors or SFAS.

  Difference between profit-sharing plans and colas

Describe the difference between profit-sharing plans and COLAs and do you believe profit-sharing plans or COLAs are more beneficial to employees

  Conflict a healthy and important part of organisational life

Organisational Behaviour-Conflict is a healthy and important part of organisational life

  Funding new business ventures

What are the main financing options for a new business venture? What are the advantages and disadvantages of each financing option?

  Business management- analysis and briefing

Prepare a briefing, aimed at the CEO of an organisation, on a business story in the current business press. Students should use concepts studied to date to examine the story.

  Employee selection and retention

Describe what makes a selection method effective and discuss the concepts of reliability, validity, utility, and legality in your response.

  Explaining barbara walter as a leader

What type of leader is Barbara Walter's?

  A chronological schedule for implementation

A chronological schedule for implementation

  Company responsibility and recruiting methods

Sexual harassment can occur in a work environment with employees of the organization. Discuss the role or responsibility of the company in this situation.

  Describe what is known about the theory from a research

Describe what is known about the theory from a research perspective and Do we know whether the ideas work or not?

  Manage organizational change and pressure

Show environmental pressures for change. Identify each type of environmental pressure and show internal organizational pressures for change. Identify each type of internal pressure for change.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd