Question

Frank is the fresh produce supplier to Green Valley, an upscale restaurant. He provides the restaurant with imported meat for which he is paid $1,500 per day. One day, Frank fails to deliver the meat due to personal reasons. This causes the restaurant to order from a neighboring city for $2,500. The delay in shipment results in a foreseeable loss of $1,500 in revenue for Green Valley. If Green Valley decides to sue Frank for damages, the court is most likely to award Green Valley with damages in the amount of __________. Multiple Choice $5,500 $1,000 $8,000 $4,000 $2,500

Answer 1

$2,500.

Business Agreement Between Two Parties:

• It benefits both sides to get into a contract with someone for services, or commodities, or to form a partnership.
• Positive thinking and hope do not ensure that issues will not arise during the transaction.
• A contract between two parties must be prepared when two businesses seek to pool their resources for common commercial objectives.
• You can retain legal counsel to assist you in creating a contract.
• A contract between two parties specifies the terms of the transaction and includes the parties' names, a description of the commercial activity, and other information.
• Contracts must adhere to a number of common standards in order to be upheld, one of which is that they must be in writing.
• One party can go to court again another party if something which is not mentioned is done and vice-versa.

Explanation -

Therefore, the court will most likely award Green Valley with damages the total sum of $2,500.

$1,500 dor loss and $1,000 as compensation.

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