In a Construction Contract,there Is a $1,000 Per Day Estimate

question 35

Essay

In a construction contract,there is a $1,000 per day estimate of damages for each day that the contract runs over the completion date.The contractor is 30 days late when the job is completed,resulting in a prospective damage award of $30,000.What is this type of clause,and when will it be enforced?

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Definitions:

Arguments

Reasons or sets of reasons given in support of an idea, action or theory.

Razor Blades

Thin, flat pieces of metal with a sharp edge, primarily used for cutting or shaving.

Participants

Individuals who take part in an activity or event, often used in the context of experiments or studies.

Classical Conditioning

A learning process in which a neutral stimulus becomes associated with a meaningful stimulus and acquires the capacity to elicit similar responses.