To Complete a Contract for Fitting Out a New Shop

question 3

Multiple Choice

To complete a contract for fitting out a new shop in time for its opening, a refurbishment company has employed three temporary painters for 10 days at £45 per day and moved two carpenters who are paid £70 per day from another job for three days. The penalty for late completion of the shop is £300 but the delay to the carpenters' current job will only cost £150. What are the relevant costs?

• A) £1,770
• B) £1,800
• C) £1,500
• D) £1,650

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Definitions:

Indemnification

A legal obligation to compensate for loss, damage, or liability incurred by another party.

Breach

The violation or breaking of a law, duty, or contractual obligation.

Specific Performance

A legal remedy in contracts law requiring a party to perform their obligations under a contract, rather than paying damages for breach.

Aficionado's

Enthusiasts or devotees to a particular interest or activity.