Business, 06.07.2021 18:00 carechiga24

A builder entered into a contract with a landowner to build a warehouse for $500,000 by August 1. The agreement provided for five progress payments of $100,000 each at various stages of completion. On June 20, after the builder had spent $350,000 on performance and received $300,000 in progress payments, the builder notified the landowner that he was quitting the project. The landowner hired another contractor to complete the warehouse by August 1 for $250,000, which was a reasonable price given the short deadline. Which of the following statements regarding the parties' remedies is correct (A) The builder can recover $50,000, the differ-ence between the amount he expended on performance and the amount he was paid, to prevent the landowner’s unjust enrich-ment.
(B) Neither party can recover anything, because the $50,000 extra that the landowner had to pay to complete the building is offset by the $50,000 difference between the builder’s expenditures and the payments the landowner made to him.
(C) The landowner can recover $50,000, the difference between the contract price and the total amount he paid for completing the building.
(D) The landowner can recover $100,000, the difference between the contract price and the total amount spent constructing the building

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A builder entered into a contract with a landowner to build a warehouse for $500,000 by August 1. Th...

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