Repudiation and demanded fulfillment of the contract

Assignment Help Accounting Basics

Reference no: EM131097310

By written contract, Ames agreed to build a house on Bowen's lot for $145,000, commencing within ninety days of the date of the contract. Prior to the date for beginning construction, Ames informed Bowen that he was repudiating the contract and would not perform. Bowen refused to accept the repudiation and demanded fulfillment of the contract. Eighty days after the date of the contract, Bowen entered into a new contract with Curd for $142,000. The next day, without knowledge or notice of Bowen's contract with Curd, Ames began construction. Bowen ordered Ames from the premises and refused to allow him to continue. Will Ames be able to collect damages from Bowen? Explain.

Reference no: EM131097310

Questions Cloud

What is the sound power incident on the eardrum : What is the sound power (energy per second) incident on the eardrum at the threshold for pain?

Macroeconomic variables is affected : Draw a fully labeled figure of the FE line, the LM curve and the IS curve. Label the point where all three curves intersect E. Show in the figure how the curves move in response to a positive supply shock (i.e. an increase in A). Then answer how each..

Discuss secures contentions : Secure Courier, Inc., has a requirements contract with Petro Distribution Corporation that obligates Petro to supply Secure with all the gasoline it needs for its delivery vehicles for one year at $2.30 per gallon. Discuss Secure's contentions.

Contrast the forecasting methods of several decades : What advances are being made in technology and algorithms in helping advance the accuracy of forecasting?

Repudiation and demanded fulfillment of the contract : By written contract, Ames agreed to build a house on Bowen's lot for $145,000, commencing within ninety days of the date of the contract. Prior to the date for beginning construction, Ames informed Bowen that he was repudiating the contract and wo..

Fixed cost of running the firm : Leila runs a firm in a perfectly competitive market with many other firms. Her short-run cost function is given by C(q) = q2 + 25q + 144 such that MC(q) = 2q + 25. Answer the following questions. How much is Leila’s fixed cost of running the firm? If..

Patty husband delays starting an ira for the first : Suppose that Patty's husband delays starting an IRA for the first 10 years he works but then makes $2000 deposits at the end of each of the next 15 years. If the interest rate is 9%, compounded annually, and if he leaves the money in his account ..

What is the magnitude of the acceleration : Calculate the magnitude of the acceleration starting from rest if each dog exerts an average force of 185 N backward on the snow

What output is the firm total revenue maximized : Assume that a monopoly has the following inverse demand curve: P=80-5Q. The firm's total cost function is TC=20+10Q. At what output is the firm's total revenue maximized?

User Account

All Pages