Explain who will prevail and why

Assignment Help Project Management
Reference no: EM131386205

Associated Builders, Inc., provided labor and materials to William M. Coggins and Benjamin W. Coggins, doing business as Ben & Bill's Chocolate Emporium, to complete a structure on Main Street in Bar Harbor, Maine.

After a dispute arose regarding compensation, Associated and the Cogginses executed an agreement stating that there existed an outstanding balance of $70,005.54 and setting forth the following terms of repayment: It is agreed that, two payments will be made by the Cogginses to Associated Builders as follows: Twenty Five Thousand Dollars ($25,000.00) on or before June 1, 1996, and Twenty Five Thousand Dollars ($25,000.00) on or before June 1, 1997.

No interest will be charged or paid providing payments are made as agreed. If the payments are not made as agreed then interest shall accrue at 10% per annum figured from the date of default.... It is further agreed that Associated Builders will forfeit the balance of Twenty Thousand and Five Dollars and Fifty Four Cents ($20,005.54) providing the above payments are made as agreed.

The Cogginses made their first payment in accordance with the agreement. The second payment, however, was delivered three days late on June 4, 1997.

Claiming a breach of the contract, Associated contended that the entire balance on the original contract of $20,005.54, plus interest and cost, were due. Explain who will prevail and why.

Reference no: EM131386205

Prepare reflection report of entrepreneurship

You need to prepare reflection report of entrepreneurship - Reflection report is generally written to share the experience with others about a project, event, scene or intera

Small instance of a larger truth

This is a small instance of a larger truth.  Although a good plan is essential to a good project, planning can be an attractive alternative to actually doing something. In W

What are element and element value and its initial condition

For t > 0 the voltage across an energy storage element is v (t)= 5 e-100t V and the current through the element is i (t) = 10 - 5 e-100t A. - What are the element, the element

Integrate project goals to the organization''s objectives

Explain why is it important to integrate project goals to the organization's strategic objectives and why is setting specific project goals essential to the successful outco

How will that affect scope costs and schedule

Using the information from the readings, explain how you would go about assessing the possibility of delivering your project early. How will that affect scope, costs, and sc

Construct a pcm for the criterion quality

John considers the difference between fair quality and good quality to be of strong importance, and the difference between good and excellent to be of very strong importance

Advantages and disadvantages of its use of a jit system

A JIT inventory system appears to be an important success factor for Zara. Choose a local retailer and examine the advantages and disadvantages of its use of a JIT system. D

What is its expected opportunity loss

Using the opportunity loss approach, which alternative will be selected, and what is its expected opportunity loss? What is the most the investor should be willing to pay fo


Write a Review

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