Multiple Choice
Metro Holdings Inc. contracts to sell a commercial parking garage to New Property LLC. The contract provides that if Metro does not close the deal by a certain date, it must pay the buyer one-half of the value of the property. This provision is not enforceable if it is
A) meant to pay for additional work in the event of damage.
B) a reasonable estimate of the loss on the breach.
C) designed to penalize Metro.
D) intended to quickly provide cash to New Property.
Correct Answer:
Verified
Correct Answer:
Verified
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