(Solution) 19 Peter Owned A Catering Company. He Was Looking For A Celebrity Chef To Prepare Meals At A Large Convention. | Snapessays.com


(Solution) 19 Peter owned a catering company. He was looking for a celebrity chef to prepare meals at a large convention.


19Peter owned a catering company.  He was looking for a celebrity chef to prepare meals at a large convention.  He had interviewed several chefs and realized that they all demanded the same pay, approximately $1,000 per day.  He decided to hire Chef David, who agreed to provide one day of services for $1,000.  Peter knew that his catering company would generate $5,000 in profits from catering the convention.  One week before the convention, before Peter had spent any money preparing, but too late to hire another chef, Chef David canceled, saying he had received a better offer.  Peter was unable to cater the event.  Which of the following statements is true?(Which one to choose)A. Peter has expectation damages of $5,000. B. Peter has opportunity cost damages of $5,000. C. Peter has reliance damages of $5,000. D. All of the above are true. E. Both A and B are true.

 


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This question was answered on: May 23, 2022

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