The differences between “liquidated damages” and a “penalty” for the late completion of the contract.

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 3, Problem 1RQE

To determine

The differences between “liquidated damages” and a “penalty” for the late completion of the contract.

Expert Solution & Answer

Explanation of Solution

The difference between the “liquidated damages” and a “penalty” for the late completion of the contract is as follows:

The difference between the former and the latter is that the liquidated damages is the sum of money that the concerned project owner loses for not completing the project, whereas the penalty for the late completion of the contract simply means that the contractor needs to pay a fine for not completing the work on time or rather completing the work after the due time. It is unrelated. It differs from liquidated damages, which can be shown by the project owner for receiving the finished work late.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

00:45

Students have asked these similar questions

Q13: The line CD, C(xc, 6), D(6,yd), the point D is on the right of point C, the value of horizontal effect H(3,0) is on the right of point C, the vertical effect V(0, -2) right of H. the distance between projection of the points H, V is 5cm, Find: 1- The value of xc and yd. 2- The distance between projections of the points C, D. 3- The true length (T.L.) of CD. 4- The angles a and ẞ. 5- A point F in the middle of line CD, find F (xf, yf).

Q9: The straight line AB of true length (8) cm, having the following data: A (5, ya) & B (xb, yb), the point B is on the left of point A, the inclination of the line to the horizontal plane (H.P) is 30° (a) it Horizontal trace H (-3, 0), and point H is on the left of point A with distance (16) cm. Draw the Plan & Elevation of the line AB and determine the following: 1. The missed coordinates: ya, xb, yb. 2. The coordinates of the vertical trace (V). 3. The inclination of the line to the vertical plane (V.P) (B). 4. The distance between projections of the points A and B

Q12: The straight line AB, having the following data: the distance between projections of the points A and B is 8 cm, and A (2.5, 0) & B (0, 6), the point B is on the left of point A. Draw the Plan & Elevation of the line AB and determine the following: 1. The true length T.L of the line AB. 2. The coordinate of Vertical trace V and Horizontal trace H. 3. The inclination of the line to the V.P and H.P. 4. A point E in the middle of the line AB, find E (xe,ye).

Answer 2

Question

Chapter 3, Problem 1RQE

To determine

The differences between “liquidated damages” and a “penalty” for the late completion of the contract.

Expert Solution & Answer

Explanation of Solution

The difference between the “liquidated damages” and a “penalty” for the late completion of the contract is as follows:

The difference between the former and the latter is that the liquidated damages is the sum of money that the concerned project owner loses for not completing the project, whereas the penalty for the late completion of the contract simply means that the contractor needs to pay a fine for not completing the work on time or rather completing the work after the due time. It is unrelated. It differs from liquidated damages, which can be shown by the project owner for receiving the finished work late.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

00:45

Answer 3

Question

Chapter 3, Problem 1RQE

To determine

The differences between “liquidated damages” and a “penalty” for the late completion of the contract.

Expert Solution & Answer

Explanation of Solution

The difference between the “liquidated damages” and a “penalty” for the late completion of the contract is as follows:

The difference between the former and the latter is that the liquidated damages is the sum of money that the concerned project owner loses for not completing the project, whereas the penalty for the late completion of the contract simply means that the contractor needs to pay a fine for not completing the work on time or rather completing the work after the due time. It is unrelated. It differs from liquidated damages, which can be shown by the project owner for receiving the finished work late.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

00:45

Answer 4

Question

Chapter 3, Problem 1RQE

To determine

The differences between “liquidated damages” and a “penalty” for the late completion of the contract.

Expert Solution & Answer

Explanation of Solution

The difference between the “liquidated damages” and a “penalty” for the late completion of the contract is as follows:

The difference between the former and the latter is that the liquidated damages is the sum of money that the concerned project owner loses for not completing the project, whereas the penalty for the late completion of the contract simply means that the contractor needs to pay a fine for not completing the work on time or rather completing the work after the due time. It is unrelated. It differs from liquidated damages, which can be shown by the project owner for receiving the finished work late.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

00:45

Answer 5

Chapter 3, Problem 1RQE

To determine

The differences between “liquidated damages” and a “penalty” for the late completion of the contract.

Expert Solution & Answer

Explanation of Solution

The difference between the “liquidated damages” and a “penalty” for the late completion of the contract is as follows:

The difference between the former and the latter is that the liquidated damages is the sum of money that the concerned project owner loses for not completing the project, whereas the penalty for the late completion of the contract simply means that the contractor needs to pay a fine for not completing the work on time or rather completing the work after the due time. It is unrelated. It differs from liquidated damages, which can be shown by the project owner for receiving the finished work late.

Answer 6

Chapter 3, Problem 1RQE

To determine

The differences between “liquidated damages” and a “penalty” for the late completion of the contract.

Expert Solution & Answer

Explanation of Solution

The difference between the “liquidated damages” and a “penalty” for the late completion of the contract is as follows:

The difference between the former and the latter is that the liquidated damages is the sum of money that the concerned project owner loses for not completing the project, whereas the penalty for the late completion of the contract simply means that the contractor needs to pay a fine for not completing the work on time or rather completing the work after the due time. It is unrelated. It differs from liquidated damages, which can be shown by the project owner for receiving the finished work late.

Answer 7

Chapter 3, Problem 1RQE

To determine

The differences between “liquidated damages” and a “penalty” for the late completion of the contract.

Answer 8

Expert Solution & Answer

Explanation of Solution

The difference between the “liquidated damages” and a “penalty” for the late completion of the contract is as follows:

The difference between the former and the latter is that the liquidated damages is the sum of money that the concerned project owner loses for not completing the project, whereas the penalty for the late completion of the contract simply means that the contractor needs to pay a fine for not completing the work on time or rather completing the work after the due time. It is unrelated. It differs from liquidated damages, which can be shown by the project owner for receiving the finished work late.