Question

Marc agrees to sell Diana 500 copies of a book for $3.50 per book. Marc breaches the contract by not delivering the books. At the time of the breach, the books are available from the publisher for $4.50 each. Diana’s damages are _________.

Answer 1

Answer:

$500

Explanation:

Damages refer to the financial loss suffered by a party to a breached contract. It occurs as a result of one party refusing to perform their obligation in the contract, causing injury and losses to the other.

Damages are the extra expense incurred by the offended party due to the breach of contract. The calculation of damages involves getting the difference between the market price and the contract price. For Diana, the damages will be the market price of $4.50, and the contact price $3.50. Because the books were 500, her damage would be 500 X 1 = $500.