Excavate n' Fill, Inc., enters into a contract with Fred to fill and landscape an abandoned quarry on Fred's land. Fred advances Excavate n' Fill 10 percent of its cost. The parties rescind the contract. Excavate n' Fill's refund of the payment is

A) a penaltyB) liquidated damages. C) restitution. D) reformation.

Question

Kamden Salazar

Social Studies

4 May, 15:44

Excavate n' Fill, Inc., enters into a contract with Fred to fill and landscape an abandoned quarry on Fred's land. Fred advances Excavate n' Fill 10 percent of its cost. The parties rescind the contract. Excavate n' Fill's refund of the payment is

A) a penaltyB) liquidated damages. C) restitution. D) reformation.

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Answers (1)

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Tatiana Dalton · Answer 1

restitution

Explanation:

Based on the information provided within the question it can be said that Excavate n' Fill's refund of the payment is a restitution. This term refers to when a court makes the defendant of a case (receiver of a contract) return his/her profit to the contrary party. Which is what Excavate n' Fill' is doing by returning the money that Fred paid to have his quarry filled, because they rescinded the contract.