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Reliable Construction Company contracts with Equerry to build a grandstand at Equerry's racecourse at a...

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Accounting

Reliable Construction Company contracts with Equerry to build a grandstand at Equerry's racecourse at a cost of $100,000. to have it completed by June 1, 2021. The contract also states that Reliable will pay Equerry, $5,000 per day for every day it is late completing the grandstand. Reliable is five days late and refuses to pay. Equerry sues Reliable. Who wins and why ?

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