Contract calls for liquidated damages

Assignment Help Other Subject

Reference no: EM133812184

Question

A contract calls for liquidated damages of $1,000 per day on late delivery of goods. The total value of the contract is $3200 and the goods are five days late. The buyer demands $5,000 in liquidated damages. The likely result is Multiple Choice the buyer will receive the $5000. the liquidated damage clause is punitive and not enforceable here. the liquidated damage clause is not punitive but the court will not enforce it as it is exculpatory. the buyer will not receive the $5000 but will receive something less solely under the liquidated damage clause. the buyer will receive the $5000 in liquidated damage clause plus the buyer's actual damages as well.

Reference no: EM133812184

Questions Cloud

Suppose you order snowboard from seller on craigslist : Suppose you order a snowboard from a seller on Craigslist. You pay for the snowboard, but the seller refuses to send the board to you.

Reasonable expectation of privacy doctrine : What is the difference between the trespass doctrine and the reasonable expectation of privacy doctrine?

Basis of current department of homeland security : You will develop a research paper that addresses the legal basis of current Department of Homeland Security (DHS) jurisdiction, mission, and responsibilities.

Reasonable person would evaluate as being offensive : Harm in this tort would qualify as something a reasonable person would evaluate as being offensive. The scenario shows that the plaintiff acted with objective

Contract calls for liquidated damages : A contract calls for liquidated damages of $1,000 per day on late delivery of goods. The total value of the contract is $3200 and the goods are five days late.

Defendant damages property in efforts of saving themselves : Necessity is a defense that applies when a defendant damages property in efforts of saving themselves, others, or their personal property.

Bargained for exchange or suitable alternative : Condense this paragraph Consideration in contract law requires a bargained for exchange or a suitable alternative.

Acceptance in contract law can occur through instantaneous : Acceptance in contract law can occur through instantaneous communication, forming an immediate contract, or via the Mailbox Rule,

Vesting of Rights : Vesting of Rights: Generally speaking, the contracting parties can rescind the contract until the rights of the third party vest.

User Account

All Pages