The owner of a plot of land entered into a contract with a builder to build a house to certain specifications on the land for $200,000, to be paid on completion. The builder expected to spend $180,000 on labor and materials, and make a profit of $20,000. When the builder had completed 75% of the construction, the builder repudiated the contract without cause. The owner had another builder complete the house for the reasonable cost of $75,000. How much should the owner pay the builder?

Answer rating: 100% (QA)

answer To calculate how much the owner should pay the builder we need to consider the work done by t... View the full answer