Asked by
Ricky Rivas
on Nov 27, 2024
Verified
Renew Turf Inc. enters into a contract with Sports Park to provide surface material for Sports Park's baseball field by a certain date. The contract specifies an amount to be paid if Renew breaches the deal. This clause is enforceable if the amount is
A) meant to pay for additional work in the event of damage.
B) a reasonable estimate of the loss on the breach.
C) designed to penalize Renew.
D) intended to quickly provide cash to Sports Park.
Reasonable Estimate
An approximation or educated guess based on available information and sound judgment, considered to be fair under the circumstances.
Breaches
Acts of breaking or failing to observe a law, agreement, or code of conduct.
Specify
To clearly identify or describe something in detail.
- Recognize and examine different solutions for contract breaches, such as specific performance and pre-determined damages.
- Understand the enforceability and boundaries of specific contract clauses, such as those pertaining to liquidated damages and exclusive remedies.
Verified Answer
JK
Learning Objectives
- Recognize and examine different solutions for contract breaches, such as specific performance and pre-determined damages.
- Understand the enforceability and boundaries of specific contract clauses, such as those pertaining to liquidated damages and exclusive remedies.