Reference no: EM131291512
Contractual Remedies Business Law
Business Law
Haply Inc. contracts with Barksdale LLC to have an engine repaired. After much negotiation, the parties agree that the engine will be repaired and reinstalled at Haply's facilities in 5 days. Haply plans on losing $40,000 a day for each day the engine is not delivered after the five-day window (this is the cost for a replacement engine).
Haply tells Barksdale's representatives that if the engine is not repaired on time that bad press will cause Haply to lose a client's business totaling $3,000,000. Barksdale does not complete the contract until day 7.
It cost Haply $500 to secure the delivery of a replacement engine. The actual rental of the replacement engine cost $40,000 a day. And Haply lost the business of a client totaling $3,000,000. Haply sues Barksdale for incidental, consequential and compensatory damages. The court finds that there is a breach of contract. What are the consequential, incidental, and compensatory damages that Barksdale is liable for in this case? Be sure to define each of those terms
References
Cross, F., & Miller,R. (2011).The Legal Environment of Business: Text and Cases: Ethical, Regulatory, Global, and Corporate Issues (8thed.). USA: Cengage Learning.
Miller, R. (2012).Cengage Advantage Books: Fundamentals of Business Law: Summarized Cases (9thed.). USA: Cengage Learning.
Backward bending labor supply curve
: Is the market supply curve for your labor upward sloping? What is a backward bending labor supply curve?
|
Identify the most important internal environmental factors
: Identify the most important internal environmental factors in the general, industry, and external analysis in relation to the internal analysis. Perform competitor analysis.
|
Friedman methodology of positive economics
: Briefly write and explain Friedman's methodology of "Positive Economics". Do you think the discrimination of economics as "normative" and "positive" is a logical move in building theory?
|
Why profit maximization happens
: DISCUSSION QUESTION PART 1: Explain, in your own words, why profit maximization happens at the point where MR = MC, and not where MR is greater than MC. Refer to Figure 7.2. in the textbook. Should the 4th unit of output be sold? What about the 5t..
|
What are the consequential that barksdale is liable
: What are the consequential, incidental, and compensatory damages that Barksdale is liable for in this case? Be sure to define each of those terms
|
Cost estimation processes
: Its demand curve for the product is expressed as Q = 5000 - 25P where Q is the number of vacuum cleaners per year and P is in dollars. Cost estimation processes have determined that the firm's cost function is represented by TC = 1500 + 20Q + 0.02..
|
According to the rational-expectations approach
: According to the rational-expectations approach, if everyone believes that policymakers are committed to reducing inflation, the cost of reducing inflations-the sacrifice ratio-will be lower than if the public is skeptical about the policymakers' ..
|
How will you align corporate strategy and brand development
: How will you align your corporate strategy, brand development, and decision-making processes to the business ethics and regulatory issues that you described?
|
Analyze role of leadership style on leadership effectiveness
: Explain The role of leadership style on leadership effectiveness. The influence of the culture on leading an organization. The potential challenges in leading an organization that is global.
|