Explain whether the penalty given by a contractor for late completion can be classified as liquidated damage or as penalty. Explain whether the contractor expects to gain any assessment from court action if the owner includes a bonus of $500 per day for early completion.

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Chapter 3, Problem 4RQE

To determine

Explain whether the penalty given by a contractor for late completion can be classified as liquidated damage or as penalty.

Explain whether the contractor expects to gain any assessment from court action if the owner includes a bonus of $500 per day for early completion.

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Answer 2

Question

Chapter 3, Problem 4RQE

To determine

Explain whether the penalty given by a contractor for late completion can be classified as liquidated damage or as penalty.

Explain whether the contractor expects to gain any assessment from court action if the owner includes a bonus of $500 per day for early completion.

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Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 3, Problem 4RQE

To determine

Explain whether the penalty given by a contractor for late completion can be classified as liquidated damage or as penalty.

Explain whether the contractor expects to gain any assessment from court action if the owner includes a bonus of $500 per day for early completion.

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Answer 4

Question

Chapter 3, Problem 4RQE

To determine

Explain whether the penalty given by a contractor for late completion can be classified as liquidated damage or as penalty.

Explain whether the contractor expects to gain any assessment from court action if the owner includes a bonus of $500 per day for early completion.

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Answer 5

Chapter 3, Problem 4RQE

To determine

Explain whether the penalty given by a contractor for late completion can be classified as liquidated damage or as penalty.

Explain whether the contractor expects to gain any assessment from court action if the owner includes a bonus of $500 per day for early completion.

Answer 6

Chapter 3, Problem 4RQE

To determine

Explain whether the penalty given by a contractor for late completion can be classified as liquidated damage or as penalty.

Explain whether the contractor expects to gain any assessment from court action if the owner includes a bonus of $500 per day for early completion.

Answer 7

Chapter 3, Problem 4RQE

To determine

Explain whether the penalty given by a contractor for late completion can be classified as liquidated damage or as penalty.

Explain whether the contractor expects to gain any assessment from court action if the owner includes a bonus of $500 per day for early completion.

Answer 8

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Answer 11

Ch. 3 - Prob. 1RQE Ch. 3 - Prob. 2RQE Ch. 3 - Prob. 3RQE Ch. 3 - Prob. 4RQE Ch. 3 - Prob. 5RQE Ch. 3 - Prob. 7RQE Ch. 3 - Prob. 8RQE Ch. 3 - Prob. 9RQE Ch. 3 - Prob. 12RQE

Explain whether the penalty given by a contractor for late completion can be classified as liquidated damage or as penalty. Explain whether the contractor expects to gain any assessment from court action if the owner includes a bonus of $500 per day for early completion.

Solution Summary: The author explains that the contractor's penalty for late completion can be classified as liquidated damage or as penalty.

Concept explainers

Explain whether the penalty given by a contractor for late completion can be classified as liquidated damage or as penalty.

Explain whether the contractor expects to gain any assessment from court action if the owner includes a bonus of $500 per day for early completion.

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Chapter 3 Solutions