COMM 393 Chapter Notes -Liquidated Damages
Document Summary
Blackcomb skiing v. schneider - breach of contract & damages. Schneider made a contract with blackcomb to purchase a luxury condominium unit for. The contract stipulated that the deposit would be placed in trust with the lawyers for blackcomb and if schneider did not pay blackcomb the purchase price on the completion date, the deposit would be retained by blackcomb, at. Blackcomb retains this sum in lieu of suing. After repeated breaches by schneider to pay the purchase price when it was due, blackcomb elected to treat the contract as discharged by breach of condition and demanded the ,000. Schneider refused to sign the documents necessary to release the funds out of trust to. Blackcomb mitigated damages by selling the property for ,450,000. Schneider refused to release the funds from trust saying that because blackcomb suffered no losses it should not be entitled to retain the deposit.
