Joshua Contractually Agreed to Sell a Widget to Maya for $50

question 64

Multiple Choice

Joshua contractually agreed to sell a widget to Maya for $50 000.Before the sale was completed,however,Maya announced that she no longer wanted the widget.She therefore refused to accept delivery of it or to make any payment.The widget is really worth $55 000.There are several other parties who are willing to buy it from Joshua at that price.At the time of entering into his contract with Maya,however,Joshua thought that the widget was worth $60 000.He therefore thought that he would earn a profit of $10 000 under the contract.A court will order Maya to pay Joshua

• A)$5000.
• B)$50 000.
• C)$10 000.
• D)$55 000.
• E)$1.

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Definitions:

Negotiated Agreement

An arrangement or deal reached by two or more parties through the process of negotiation.

Tangible Factors

Concrete and measurable elements that can influence decisions and outcomes, such as money, resources, or physical assets.

Interdependent Relationships

Connections between entities or individuals wherein they depend on each other to some extent, highlighting the mutual dependence aspect.

Mutual Gains

A situation where all parties involved in a negotiation or agreement benefit from the outcome.