Lucky,a contractor,enters into a contract with Penny,a homeowner,to remodel her kitchen.The contract provides a specific completion date,but does not specify what will happen if Lucky does not have the job finished by the date.So,Penny may deduct $100 per day from the contract price until the job is finished,because this is the industry norm.

Question

Quizplus · Accepted Answer

In the absence of a specific clause in the contract regarding penalties for late completion, Penny cannot unilaterally impose a deduction based on industry norms. Contract terms must be explicitly agreed upon by both parties.

Lucky,a Contractor,enters into a Contract with Penny,a Homeowner,to Remodel Her