Ask Question
BusinessBusiness
20 November, 00:01

Excavate n' Fill, Inc., enters into a contract with Fred to fill and landscape an abandoned quarry on Fred's land. Fred advances Excavate n' Fill10 percent of its cost. The parties rescind the contract. Excavate n' Fill's refund of the payment is

+4
Answers (1)
  1. 20 November, 00:37
    0
    restitution.

    Explanation:

    In contract law, restitution refers to a party forfeiting monetary gains that they obtained illegally from the other party involved in the contract. Restitution is very commonly used in contract law since it is meant to restore an injured party due to damages suffered from another parties unlawful performance. Ideally, when restitution is applied, the injured party should return to their original position.

    In this case, Excavate n' Fill must return the $10,000 that Fred gave them as advanced payment. The restitution of the $10,000 should restore Fred's original position.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Excavate n' Fill, Inc., enters into a contract with Fred to fill and landscape an abandoned quarry on Fred's land. Fred advances Excavate ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Which of the following cultures develops an emphasis on entrepreneurship and respect for the employee and allows the use of organizational structures that empower employees to make decisions and motivate them to succeed? A. Aggressive cultures B.
Answers (1)
During the adjusting process two transactions were neglected or omitted. The first is for unearned rent revenue of which $540 was earned during the period, the second was for accrued interest payable of which $225 is owed for the period.
Answers (1)
A corporation that pollutes a body of water has not met its moral minimum duty of social responsibility even if the business later compensates those whom the pollution has injured.
Answers (1)
Processing of computer information is an example of which sector of the economy? processing of computer information is an example of which sector of the economy? primary the data sector primary and secondary sixth percentile tertiary
Answers (1)
Which type of investor owns a public corporation
Answers (1)
New Questions in Business
When the consumer price index rises, the typical family a. has to spend more dollars to maintain the same standard of living. b. can spend fewer dollars to maintain the same standard of living. c. finds that its standard of living is not affected. d.
Answers (1)
A magazine subscription costs $45 per year at the beginning of each year, or $115 now for a three-year subscription. If the subscriber elects to pay the $115 now, the rate of return on the investment will be nearest to:
Answers (2)
The second step in rational decision making is to: choose the solution that maximizes value. identify the criteria that are important in making the decision. evaluate the alternatives. implement the alternative.
Answers (1)
What impact will a spike in wages cause to the labor demand curve?
Answers (1)
A company issued 8%, 15-year bonds with a par value of $500,000 that pay interest semiannually. The market rate on the date of issuance was 8%.
Answers (1)
Home » Business » Excavate n' Fill, Inc., enters into a contract with Fred to fill and landscape an abandoned quarry on Fred's land. Fred advances Excavate n' Fill10 percent of its cost. The parties rescind the contract. Excavate n' Fill's refund of the payment is
Sign Up Forgot Password?