Contractual Remedies, business and finance homework help

Jan 11th, 2017
Anonymous
Category:
Accounting
Price: $10 USD

Question description

The requirements below must be met for your paper to be accepted and graded:

  • Write between 500 – 750 words (approximately 2 – 3 pages) using Microsoft Word.
  • Attempt APA style, see example below.
  • Use font size 12 and 1” margins.
  • Include cover page and reference page.
  • At least 60% of your paper must be original content/writing.
  • No more than 40% of your content/information may come from references.
  • Use at least two references from outside the course material, preferably from EBSCOhost. Text book, lectures, and other materials in the course may be used, but are not counted toward the two reference requirement.

 Contractual Remedies Haply Inc. contracts with Barksdale LLC to have an engine repaired. After much negotiation, the parties agree that the engine will be repaired and reinstalled at Haply’s facilities in 5 days. Haply plans on losing $40,000 a day for each day the engine is not delivered after the five-day window (this is the cost for a replacement engine). Haply tells Barksdale’s representatives that if the engine is not repaired on time that bad press will cause Haply to lose a client’s business totaling $3,000,000. Barksdale does not complete the contract until day 7. It cost Haply $500 to secure the delivery of a replacement engine. The actual rental of the replacement engine cost $40,000 a day. And Haply lost the business of a client totaling $3,000,000. Haply sues Barksdale for incidental, consequential and compensatory damages. The court finds that there is a breach of contract. What are the consequential, incidental, and compensatory damages that Barksdale is liable for in this case? Be sure to define each of those terms. The requirements below must be met for your paper to be accepted and graded:  Write between 500 – 750 words (approximately 2 – 3 pages) using Microsoft Word.  Attempt APA style, see example below.  Use font size 12 and 1” margins.  Include cover page and reference page.  At least 60% of your paper must be original content/writing.  No more than 40% of your content/information may come from references.  Use at least two references from outside the course material, preferably from EBSCOhost. Text book, lectures, and other materials in the course may be used, but are not counted toward the two reference requirement. Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must be identified in the paper and listed on a reference page.Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must come from sources such as, scholarly journals found in EBSCOhost, online newspapers such as The Wall Street Journal, government websites, etc. Sources such as Wikis, Yahoo Answers, eHow, etc. are not acceptable.

Tutor Answer

(Top Tutor) RyanTopTutor
School: Rice University
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Attached.

Running Head: CONTRACTUAL REMEDIES

Contractual Remedies
Name
Instructor
Institutional Affiliation
Date

1

CONTRACTUAL REMEDIES

2

Introduction
A contract refers to an agreement between two or more individuals and/or parties. It’s a
legally binding agreement that requires each of the participating parties to fulfil their part of the
bargain. A contract can either be in written or oral form. In this case, Haply Inc. enters into a
binding contract with Barksdale LLC in which the latter is required to repair a damaged engine
within a specified time frame (five days). However, the latter fails to repair the engine within the
agreed time frame, and thus the former sues it. This paper will address the consequential,
incidental, and compensatory damages that Barksdale LLC is liable for.
Consequential damages, also known as special damages refers to damages that occur
because one party failed to meet a contractual requirement. This type of damages extend beyond
the actual contract and to the acts embellished from the failure to meet the obligation (Goldberger,
2015)....

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