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Ahmir agrees to purchase a shipment of oriental rugs from oriental rug company for the price of $50,000, to be delivered on august 15. on july 15, ahmir notifies oriental that he no longer wants to purchase the rugs. oriental spends $1,000 to advertise the rugs and obtains a new purchaser who buys the rugs for $40,000. oriental then sues ahmir for breach of contract. if oriental is successful in its breach of contract suit against ahmir, oriental may receive:

Answer :

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Assuming a new purchaser who buys the rugs for $40,000. if oriental is successful in its breach of contract suit against ahmir, oriental may receive: $11,000 from Ahmir.

Breach of contract

Using this formula

Amount to received from Ahmir=Initial price+Cost of advertisement -new selling price

Where:

Initial price=$50,000

Cost of advertisement=$1,000

New selling price=$40,000

Let plug in the formula

Amount to received from Ahmir=$50,000+$1,000-$40,000

Amount to received from Ahmir=$11,000

Inconclusion  if oriental is successful in its breach of contract suit against ahmir, oriental may receive: $11,000 from Ahmir.

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