Greg contracts to build a storage shed for Haney. Haney pays Greg in advance, but Greg completes only half the work. Haney pays Ipswich $500 to finish the shed. If Haney sues Greg, what would be the measure of recovery?

Haney is going to be compensated for expected benefits. He has to be put in the situation he would have been if the job was fully done by Greg. So since payment amount was 500, the compensatory damage should be about the same amount.

Explanation:

From this question, haney paid Greg in advance for a job that Greg did not complete. And he Haney ended up getting someone else to do the job.

Now The damages are going to be compensation to Haney as Greg did not complete the job. The amount he is going to get, is the cost of the work, which would be $500.

Greg breached the contract with Haney by not finishing the job, but yet taking Haney's payment.

Haney is going to be compensated for expected benefits. He has to be put in the situation he would have been if the job was fully done by Greg. So since payment amount was 500, the compensatory damage should be about the same amount.

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.