How much would that contractor be entitled to in damages

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Reference no: EM133443687

Question 1) If a contractor had an original contract price of $1,000,000, had already expended $900,000 in part performance, estimates that the cost of completion would be $0 and has already received $750,000 in progress payments, how much would that contractor be entitled to in damages if you were to use the reasonable cost of completion formula?

Question 2) If a contractor had an original contract price of $1,000,000, had already expended $250,000 in part performance, estimates that the cost of completion would be $500,000 and has already received $250,000 in progress payments, how much would that contractor be entitled to in damages if you were to use the reasonable cost of completion formula?

Reference no: EM133443687

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