3. Hilda Homeowner enters into a signed written contract with Carpenter Cory to build a deck for $2,000 with Cory to provide all materials and labor at Cory’s expense with the work to be completed in 3 weeks. They agree that Cory will be paid the full $2,000 upon completion of the work. Cory starts the job but doesn’t finish it. After 5 weeks, the job is incomplete, Hilda is unable to contact Cory and she arranges with substitute contractor, Stan to finish building the deck. Stan, a reputable builder, tells Hilda that the work Cory did has to be torn out because Cory used the wrong materials. Stan and Hilda agree that the total price will be $2,400 for Stan to rip out what’s been done and then build the deck to the original specifications. a. What damages, if any, can Hilda recover from Cory based on these facts? Show your calculations. b. Assume that after getting Stan’s proposal of $2,400, Hilda, instead of using Stan for the job, hires her out-of-work brother to do the job for $3,000. Based on these changed facts, what damages, if any, can Hilda recover from Cory? Show your calculations.
3. Hilda Homeowner enters into a signed written contract with Carpenter Cory to build a deck for $2,000 with Cory to provide all materials and labor at Cory’s expense with the work to be completed in 3 weeks. They agree that Cory will be paid the full $2,000 upon completion of the work. Cory starts the job but doesn’t finish it. After 5 weeks, the job is incomplete, Hilda is unable to contact Cory and she arranges with substitute contractor, Stan to finish building the deck. Stan, a reputable builder, tells Hilda that the work Cory did has to be torn out because Cory used the wrong materials. Stan and Hilda agree that the total price will be $2,400 for Stan to rip out what’s been done and then build the deck to the original specifications. a. What damages, if any, can Hilda recover from Cory based on these facts? Show your calculations. b. Assume that after getting Stan’s proposal of $2,400, Hilda, instead of using Stan for the job, hires her out-of-work brother to do the job for $3,000. Based on these changed facts, what damages, if any, can Hilda recover from Cory? Show your calculations.
Chapter5: Gross Income: Exclusions
Section: Chapter Questions
Problem 2DQ
Related questions
Question
100%
3. Hilda Homeowner enters into a signed written contract with Carpenter Cory to build a deck for $2,000 with Cory to provide all materials and labor at Cory’s expense with the work to be completed in 3 weeks. They agree that Cory will be paid the full $2,000 upon completion of the work. Cory starts the job but doesn’t finish it. After 5 weeks, the job is incomplete, Hilda is unable to contact Cory and she arranges with substitute contractor, Stan to finish building the deck. Stan, a reputable builder, tells Hilda that the work Cory did has to be torn out because Cory used the wrong materials. Stan and Hilda agree that the total price will be $2,400 for Stan to rip out what’s been done and then build the deck to the original specifications.
a. What damages, if any, can Hilda recover from Cory based on these facts? Show your calculations.
b. Assume that after getting Stan’s proposal of $2,400, Hilda, instead of using Stan for the job, hires her out-of-work brother to do the job for $3,000. Based on these changed facts, what damages, if any, can Hilda recover from Cory? Show your calculations.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT
Pfin (with Mindtap, 1 Term Printed Access Card) (…
Finance
ISBN:
9780357033609
Author:
Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:
Cengage Learning