Economic foundations of law, Public Economics

Mr. X enters into a contract with Mr. Z under which Z agreed to build a customized telescope for X for $500. The value of the completed telescope to X will be $600. Expecting that the telescope will be delivered on schedule, X pays the purchase price to Z and drills a hole in his roof at a cost of $300. However, before Z delivers the telescope, Ms. Y, another amateur astronomer, offers to buy it from Z for $550. Would Z breach his contract with Mr. X if the measure of damages were (1) the expectation interest (2) the restitution measure (3) the reliance measure? Explain why in detail. 

Posted Date: 2/22/2013 6:49:30 AM | Location : United States







Related Discussions:- Economic foundations of law, Assignment Help, Ask Question on Economic foundations of law, Get Answer, Expert's Help, Economic foundations of law Discussions

Write discussion on Economic foundations of law
Your posts are moderated
Related Questions
Flaws in Conventional System - Representation Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplore

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Examine issues and decisions using the economic way of thinking; identify appropriate economic policy; communicate economics in written format Topic Upon finishing your d

1. If GDP is not a good measure of economic well-being, why then it is always used by the president in his/her STATE OF THE NATION''S ADDRESS?

Health Economics - derivation of the contract curve: 01. Consider the Edgeworth box with the production of consumption goods B and health- investment goods I. (a) Briefly expl


Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Assignment This assignment will provide you with insight on how others perceive you. It will be particularly useful in situations in which you find differences in self-other resul

Consider the Edgeworth box with the production of consumption goods B and health- investment goods I. (a) Briefly explain the derivation of the contract curve. (b) How does one der

Our economic systems are of this type and share for general properties. a) Dissipative systems transform energy and process information to maintain a state of organization that