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Watson agreed to buy Ingram's house for $355,000. The contract provided that Watson deposit $15,000 as earnest money and that ‘‘in the event of default by the Buyer, earnest money shall be forfeited to Seller as liquidated damages, unless Seller elects to seek actual damages or specific performance.''
Because Watson did not timely comply with all of the terms of the contract, nine months after the Watson sale was to occur, Ingram sold the house to a third party for $355,000. Is Ingram entitled to Watson's $15,000 earnest money as liquidated damages? Explain.
Interview a local small business owner to determine how funds were obtained to start the business.- Be sure you phrase questions so that they are not overly personal, and do not ask for specific dollar amounts. Write a brief report on your finding..
Did the activities of the accountant and the accounting firm place them under the jurisdiction of the Ohio court, according to the state "long-arm" statute? Explain.
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Fred Lane, who sells boats, motors, and trailers, sold a boat, motor, and trailer to John Willis in exchange for a check for $6,285.00. The check was not honored when Lane attempted to use the funds. Willis subsequently left the boat, motor, and t..
You own University Heights Apartments, a business that rents primarily to students. One evening, your tenant Sharon is attacked by an intruder who forces the lock on the sliding glass door of her ground-floor apartment. Sharon's screams attract th..
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