On April 10,Mel Entered into a Contract to Sell His

question 85

Essay

On April 10,Mel entered into a contract to sell his house to Nan at a price of $300 000.Title was to transfer May 31.Nan paid Mel a deposit of $20 000.A clause in the contract between them said: "If the buyer does not complete as specified,the seller can elect to keep the deposit as liquidated damages." On April 30,Nan told Mel she could not complete the contract because she could not sell her own house.Mel immediately entered into a contract to sell his house to Paul for $320 000.Nan insists that Mel return her deposit because he has suffered no damages.Will a court order Mel to return her deposit?

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Definitions:

Standardization

The process of implementing and developing technical standards to ensure uniformity and consistency across different products, services, or processes.

Commercial-Grade Equipment

High-quality, durable equipment designed to meet the demands of commercial or professional usage.

Proximity to Markets

The closeness of a business location to its customers, suppliers, and other vital resources, which can impact logistics and efficiency.

Labor Supply

The total hours that workers are willing and able to work at a given wage rate, in a given period.