What remedy can the builder and the landowner recover

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Assignment:

A builder entered into a contract with a landowner to build a warehouse for $500,000 by August 1. The agreement provided for five progress payments of $100,000 each at various stages of completion. On June 20, after the builder had spent $350,000 on performance and received $300,000 in progress payments, the builder notified the landowner that he was quitting the project. The landowner hired another contractor to complete the warehouse by August 1 for $250,000, which was a reasonable price given the short deadline.

What remedy can the builder and/or the landowner recover?

Reference no: EM133312884

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