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How to lay equation contract

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in this lesson were moving past performance into our discussion of remedies so at this point we know how to determine whether or not we have a bdocHub of contract we know if we have formation of a traditional enforceable contract and either party fails to perform their legal duties under the contract and that non-performance is not excused then that party is liable for bdocHub of contract and the plaintiff is then entitled to remedies so what we want to focus on now is how do we actually determine what remedies are available and how do we calculate the actual amounts right and thats what were going to focus on in todays video and the good news here is that 95 of your remedies analysis is right here on the board its very straightforward very simple once you know all the formulas and how it plays out its usually a very easy place on a contracts fact pattern to just rack up a ton of points so we really want to focus on monetary damages expectation damages and reliance damages becaus

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How do you calculate lay time?

There are seven stages in a laytime calculation: Read relevant clauses in the charter party. Obtain Statement of Facts from agent. Determine duration of laytime allowed. Establish time of commencement of laytime. Allow for interruptions to laytime as per the charter party. Establish time of expiry of laytime.

What is laydays and cancelling date?

Laycan or L/C - Laydays Canceling - Period during which the shipowner must tender notice of readiness to the charterer that the ship has arrived at the pod of loading and is ready to load, This period is expressed as two dates, for example laydays 25 March canceling 2 April or, when abbreviated as laycan, laycan 25

What is the formula of contract?

Agreement = Offer + Acceptance.

What is contract value or price?

Contract Price / Contract Value means the sum calculated in ance with the prices accepted in Bid and / or the Contract rates as payable to the Successful Bidder for the entire execution and full completion of the Work.

What is laydays example?

Laydays refers to a period of specified days (e.g. Jan 7/16) during which owners must present the vessel for loading. Laydays should not be confused with laytime, which is the period allowed to the charterers for loading and/or discharging without payment additional to the freight.

What is the contract sales price?

Contract Sales Price means the total consideration received by the Company for the sale of a Property, Loan or other Permitted Investment.

What is the formula for contract price?

Total Contract Value Formula (TCV) Formulaically, the total contract value (TCV) is calculated by multiplying the monthly recurring revenue (MRR) by the term length of the contract, and adding any one-time fees from the contract.

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