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Gre4nikov [31]
3 years ago
5

Meatpackers, Inc., enters into a contract with Nevada Ranch for the delivery of a certain number of beef cattle on a set schedul

e. The ranch delays the first delivery for five days, aware that Meatpackers loses a certain percentage of profit each day. An award to Meatpackers of consequential damages would
Business
2 answers:
frez [133]3 years ago
6 0

Answer:

Provide the buyer with funds for a foreseeable loss beyond the contract

Explanation:

Consequential damages in contracts is different from incidental or actual damages because it causes a loss that impacts the business of the other party beyond the contract horizon, when the opposite party fails to fulfill his side of the contractual obligations.

In the scenario, Nevada's failure to deliver within agreed contractual timing is not just delaying the time of Meatpackers but as a consequence, is also causing them loss in money terms which will impact their business beyond the contract horizon.

Hence an award of consequential damages to Meatpackers will provide the buyer with funds for a foreseeable loss beyond the contract.

Katyanochek1 [597]3 years ago
6 0

Question Options:

a. ​establish, as a matter of principle, that the seller acted wrongfully.

b. ​punish the seller and deter others from similar acts.

c. ​provide the buyer with funds for a foreseeable loss beyond the contract.

d. ​provide the buyer with funds for its loss of the bargain.

Answer: An award to Meatpackers of consequential damages would provide Meatpackerswith funds for a foreseeable loss beyond the contract.

Meatpackers loses a certain percentage of profit each day as a result of the delay. The ideal thing to do is provide Meatpackers with an award for consequential damages which in turn would provide Meatpackerswith funds for a foreseeable loss beyond the contract.

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2 years ago
If a seller in a competitive market chooses to charge more than the going price, then:
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d. buyers will make purchases from other sellers

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3 years ago
The account balances of Sentinel Travel Service for the year ended August 31, 2019, are listed below:
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Answer:

Explanation:

The preparation of the report form balance sheet as of August 31, 2019 is presented below:

                                      Sentinel Travel Service

                                 Report form balance sheet

                              For the year ended August 31, 2019

Assets

Cash                                             $143,125

Account receivable                     $54,240

Supplies                                       $9,300      

Land                                             $248,000

Total assets                                 $454,665

Liabilities

Account payable                        $19,370

Owner equity

Ending capital                            $435,295

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And owners equity                    $454,665

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= $209,195

And, the ending capital would be

= Opening capital - withdrawn amount + net income - additional cpiatl

= $209,000 - $29,400 + $209,195 + $46,500

= $435,295

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