Stanislav Contractually Agreed to Sell a Piece of Land to Tien

question 2

Multiple Choice

Stanislav contractually agreed to sell a piece of land to Tien for $250 000.When the time came to transfer title,however,Stanislav refused to complete the transaction.Tien consequently refused to pay any part of the price and justifiably sued for specific performance.At that time,the market value of the land was $300 000.The case was not decided by a court for five years.The judge then held that Stanislav was liable for breach of contract.At that time,the land was worth $400 000.Which of the following statements is TRUE?

• A)If the court awards damages,Tien is entitled to receive $250 000.
• B)If the court awards damages,Tien is entitled to receive $400 000.
• C)If the court awards damages,Tien is entitled to receive $300 000.
• D)If the court awards damages,Tien is entitled to receive $150 000.
• E)If the court awards damages,Tien is entitled to receive $50 000.

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Definitions:

Building Blocks

Fundamental components or essential parts that form the foundation of a structure, concept, or system.

Financial Statement Analysis

A method used to understand the financial health and operating performance of a business through the review of its financial statements, including balance sheets, income statements, and cash flow statements.