Specialized in the building of small commercial buildings

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Reference no: EM132250213

Ramirez was a general contractor who specialized in the building of small commercial buildings. He entered into a contract with Nguyen to build a commercial building in a small retail shopping center. The contract had the following clause:

In the event that the builder is late in delivering the building, ready for occupancy, builder will suffer a reduction in contract price of $1500 per day for each day beyond the agreed upon completion date.

Completion was scheduled in the contract for December 1 of the current year. The total price of the building was $1,500,000. As of October of the current year the buyer had made payments of $1,200,000 as agreed upon and was due to pay the final $300,000 on the day the building was completed.

Ramirez was unable to deliver the building until December 15; 14 days after the agreed upon delivery date. He suffered from a late supplier who held him up for three days and from a worker’s strike that held him up for 11 days. Nguyen paid all of the last payment except for $21,000 for the delayed delivery. Ramirez believes he is entitled to the full amount and has initiated this suit.

Discuss the issues here and explain who should prevail and indicate why. Do your own work, do not discuss this with anyone else. Your answer to this case will be compared to your essay at the final exam where you will have a similar case to analyze as part of the final. Use the following format:

Issue

Decision

Support

Dissent

Reference no: EM132250213

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