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:

Cognitive Development

The process by which individuals acquire and evolve their abilities in thinking, reasoning, and understanding through various stages of life.

Piaget

A Swiss psychologist best known for his pioneering work in the field of developmental psychology and his theory of cognitive development in children.

Conservation

The protection, preservation, management, or restoration of natural environments and the ecological communities that inhabit them.

Piaget's Stages

A theory outlining four stages of cognitive development in children, including sensorimotor, preoperational, concrete operational, and formal operational stages.