The contract sets liquidated damages at $1,500 per calendar day. If substantial completion is 7 days late, what amount is assessed?
Correct Answer
B) $10,500
Liquidated damages are 7 days x $1,500/day = $10,500. Other choices use five, six, or eight days rather than the stated seven-day delay.
Why This Is the Correct Answer
Liquidated damages are 7 days x $1,500/day = $10,500. Other choices use five, six, or eight days rather than the stated seven-day delay.
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