Acctg374 Malik Vs Caldwell Case Study
Angela AvalosACCTG 374 C1March 23, 2019Malik vs. Caldwell CaseCase SummaryThe plaintiff entered a written agreement in which the defendant agreed to sell a property. The defendant failed and refused to transfer property to the plaintiff. The legal damages include expenses the plaintiff occurred to cover the costs in preparation for taking over this property. Those expenses include title and escrow expenses, general and consequential damages that come to $26,000.The contract entitles the plaintiff to compensation for delaying the property as described within their contract. The plaintiff held up his part of the contract and met his contractual obligations as listed in the contract.
Damage Assessment The damages in this case would be classified as reliance damages and benefit of the bargain. There was a specified amount that the plaintiff lost because it relied on the false representations of the defendant. The plaintiff relied on the property being transferred from the defendant- but it never happened. The total damages would put Malik in the same financial position as if the contract was never performed. Supporting Data Company Knowledge: Identifying and analyzing the company to better assess their financial performance. Researching information that can determine the factors that have made the company successful or unsuccessful, before and after the breach. Any information that can provide us with support to determine the companies operating performance is needed. This includes historical information on the company as well.