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28 August, 17:21

Carl agrees to build a hotel for Jerry by December 1. Both parties agree that if Carl fails to meet his December 1 deadline, he would be obligated to pay $10,000 per day in damages beginning December 2 for each day it takes to finish the hotel past the December 1 deadline. The $10,000 per day damages represent:a. Specific Performanceb. Restitution. c. Liquidated Damages. d. Punitive Damages

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  1. 28 August, 17:59
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    Answer: liquidated damages

    Explanation: In simple words, liquidated damages refers to the damages that the parties designate with each other while forming the contract. Under this clause, the guilty party will pay the suffering party a certain amount of compensation in case of not performing an activity as per the contract.

    In the given case, Carl and Jerry had a contract that Carl will build the hotel in a certain period which he fails to perform.

    Hence, Carl is liable to pay liquidated damages to Jerry.
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