When Jerry was negotiating a total renovation for the local health care clinic,he knew every month the clinic was closed he would lose $10,000 in rent from the various tenants in the clinic.Jerry shrewdly included ___________________ in the renovation contract to encourage the vendor to finish on schedule.

Question

Quizplus · Accepted Answer

Jerry included a nonperformance penalty in the renovation contract to encourage the vendor to finish on schedule. This penalty would serve as a consequence for the vendor if they fail to meet the agreed-upon deadline, thus incentivizing them to complete the renovation on time.

When Jerry Was Negotiating a Total Renovation for the Local