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Business, 30.10.2020 17:00 dinadenoirefan

Land Developer agrees to buy an acre of land from Property Owner for $20,000. Following payment of the purchase price by Land Developer, Property Owner breaches the contract and refuses to convey the land on the scheduled closing date (after learning that the market price of the land had risen 50% - from $20,000 to $30,000 - between the date of the sale and the scheduled closing date). Assuming that the equitable remedy of specific performance is not available, Land Developer may elect to file suit seeking (i) refund of the purchase price and (ii) compensatory damages. What would be the amount of Land Developers ‘benefit of the bargain’ compensatory damages

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Land Developer agrees to buy an acre of land from Property Owner for $20,000. Following payment of t...

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