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Business, 26.06.2020 15:01 stressedstudent6402

Suppose you are a building contractor and you sign a contract to build a home for the Smiths. Performance was to begin on July 15, 2019. On July 1, 2019 Acme Enterprises offers you a position that will yield you two and a half times the amount of net income you could earn as an independent builder. To take the job you have to start on July 15. Since you cannot be in two places at the same time you must breach the contract with the Smiths in order to accept the new position. Assume also for the exercise that the price quoted by the building contractor was $550,000.00 which was the lowest market bid by a quality builder available and that the present bids run from the $610,000.00 to $640,000.00 range for a comparable home. What are your options in this situation as the building contractor? What remedy do the Smiths have?

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Suppose you are a building contractor and you sign a contract to build a home for the Smiths. Perfor...

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