week4 - 1 Answer all questions for Case Problem 13-8 on page 247 of your text and summarize the case in accordance with the directions set forth above

week4 - 1 Answer all questions for Case Problem 13-8 on...

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1.Answer all questions for Case Problem 13-8 on page 247 of your text and summarize the case in accordance with the directions set forth above.The facts of the case:1.CP sold a property to CD.2.In the contract CP agreed to build a wall between the property bought by CD and the adjoining property within 30 days of closing. This was so that he could rent the property.3.CP also agreed to pay liquidated damages of $126 per day of delay in building.4.CP built the wall within the stipulated period.5.However subsequently it was found that building permission had not been taken and the wall did not confirm to the building code.6.CD asked CP to remedy the deviations in the wall.7.CP remedied the wall 260 days later.8.CD has claimed damages from CP for delay.CP is justified in demanding liquidated damages for the 260 days at the rate of $126 per day. This is because due to the specifications of the wall CD had been deprived of the rental income that he could have earned as well as deprived use of the property. In this case the liquidated damages were quite

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