09 Jul We Make Stuff Manufacturing, Inc.
We Make Stuff Manufacturing, Inc. is preparing to purchase a piece of land to build a new manufacturing plant. They find a piece of land that they like and enter into an enforceable contract to purchase the land from the owner for $900,000. Under the contract, the finalization (called a closing) of We Make Stuff’s purchase of the land is supposed to occur on June 15, but on June 15, the owner of the land refuses to sell the land to We Make Stuff. We Make Stuff decides to sue the owner for breach of contract. Explain your answers to the following questions using correct terminology from the course.
A) In the lawsuit, which equitable remedy should We Make Stuff request, and what is the likelihood that it will succeed?
B) What if We Make Stuff quickly finds another piece of land (meaning that they are able to avoid any lost profits in the case) and decides to sue the owner for money damages. It finds out that the land is actually worth $1,000,000. What type of money damages would they be entitled to and how much would they be entitled to? Why?
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