Is the liquidated injury amount stated in the contract, Ask an Expert

Management Studies

Mica Co. agreed to shape a commercial storage building by September 1 for Pack Rat Storage. It was hard to predict Pack Rat's fatalities if the building wasn't completed on time. The gatherings estimated that Pack Rat would lose $200 in storage fees per day if the building wasn't completed on time. Therefore the contract required Mica to pay liquidated damages of $200 per day if the work was completed late. Mica ended ten days late. Pack Rat really lost $1,800 due to the breach.
• Is the liquidated injury amount stated in the contract between Mica Co. as well as Pack Rat Storage valid or is it an invalid penalty?
• How much in compensations can Pack Rat Storage recover from Mica Co.?

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Business Management, Management Studies

Category:- Business Management
Reference No.:- M9308918

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