Homeowner enters into a contract with Roofing Company to replace Homeowner's roof. The contract price is $14,000,
Fantastic news! We've Found the answer you've been seeking!
Question:
Homeowner enters into a contract with Roofing Company to replace Homeowner's roof. The contract price is $14,000, payable after the completion of the work. Roofing Company fails to complete any of the work, and Homeowner pays Roofing Company nothing. Homeowner has to pay $15,500 to another roofing contractor to replace the roof. Which of the following correctly describes Homeowner's "expectation interest"?
Homeowner's expectation interest is $0.
Homeowner's expectation interest is $1,500.
Homeowner's expectation interest is $14,000.
Homeowner's expectation interest is $15,500.
Related Book For
Intermediate accounting
ISBN: 978-0077647094
7th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date: