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Anderson's Business Law and the Legal Environment 21th Edition by David Twomey ,Marianne Jennings
Edition 21ISBN: 978-1111081997Anderson's Business Law and the Legal Environment 21th Edition by David Twomey ,Marianne Jennings
Edition 21ISBN: 978-1111081997 Exercise 2
Anthony makes a contract to sell a rare painting to Laura for $100,000. The written contract specifies that if Anthony should fail to perform the contract, he will pay Laura $5,000 as liquidated damages. Anthony fails to deliver the painting and is sued by Laura for $5,000. Can she recover this amount?
Explanation
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Liquidated damages are stated in contrac...
Anderson's Business Law and the Legal Environment 21th Edition by David Twomey ,Marianne Jennings
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