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lakkis [162]
3 years ago
5

Stewart, the owner of ABC Construction, agreed with Joan, the owner of XYZ Hotel that he would complete renovations on her upper

scale hotel on the beach in Florida by October 1. The amount due to Stewart under the contract was $250,000. The contract contained a clause by which Stewart would pay Joan $50,000 for each day he was late on completing the project. Unfortunately, an unexpected strong earthquake shook the area; and while the earthquake did not damage the hotel itself, Stewart encountered significant difficulty in getting supplies due to the high demand for building material following the earthquake. Because he believed that traveling, himself, to other states to obtain supplies would be prohibitively expensive, he delayed the project for two weeks while waiting for local stores to have sufficient supplies available. Stewart finished renovations six days late. Joan told Stewart that she owed him nothing but that he owed her $50,000. Stewart told Joan that he was suing for the entire $250,000 because it was not his fault the earthquake delayed matters. Which of the following is Stewart's best defense?
A. Mitigated damages term
B. Liquidated damages clause
C. Stipulated damages
D. Acknowledged damages clause
E. Approved and acknowledged damages clause
Business
1 answer:
Rufina [12.5K]3 years ago
6 0

Answer:

Mitigated damages term

Explanation:

The best defense for Stewarts in this situation is Mitigated damage term. This enables him to reduce his penalty on the breach of contract,

Even though the situation was outside his control , but the contract he signed stipulated that he will pay $50,000/ day of delay in the project which had unfortunately happened.

However , the damages can be reduced or even avoided if he sue for mitigated damage term

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2 years ago
Suppose a monopsonist hires its second worker and this hiring has a marginal factor cost of $75 per day. if the market wage is n
ryzh [129]
Given:
marginal factor cost of 75 per day after hiring 2nd worker.
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The first employee earns 50 per day when she worked alone.
5 0
3 years ago
__________is concerned with improving productivity and safety by designing workplaces, equipment, instruments, computers, workst
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<h3>What is ergonomics?</h3>

Ergonomics can be regarded as one that focus on designing and arranging of things in a way that is safe.

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7 0
1 year ago
An increase in​ income, holding prices​ constant, can be represented as A. a change in the slope of the budget line. B. a parall
Lisa [10]

Answer:

Option (B) is correct.

Explanation:

If there is an increase in the income of the consumer then as a result there is a parallel shift in the budget line. This increase in income will increase the real purchasing power of the consumers and hence, this would increase the quantity of two goods consumed in an equal proportion.

Other factors remains the same, an increase in the income level of the consumer will increase the consumption of both the goods because the prices of both the goods are constant.

5 0
3 years ago
A matrix organization for project management has a distinct advantage because:A) Dual hierarchies mean two bosses.B) A significa
Zanzabum

Answer:

D) Project importance is enhanced by setting authority equal to that of functional departments.

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Here, temporary project groups are created so as to handle short term projects. Personnel are drawn from functional department and their activities are controlled and coordinated by a project manager.

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Under matrix structure for project management, the project manager is not allowed to use resources exclusively for the project i.e like in project management. Rather, such a manager is required to share resources with the organization.

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2 years ago
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