A contractor was hired by a homeowner to remodel the homeown…
A contractor was hired by a homeowner to remodel the homeowner’s home for $50,000, to be paid on the completion of the work. On May 29, relying on the fact that he planned to finish the work by June 1, and thus have the homeowner’s payment in hand, the contractor agreed to buy a car. The agreement stated that the contractor would buy the car “for $50,000 if payment is made on June 1, and if payment is made after, the price will be $55,000.” The contractor completed the work, adhering to all specifications on June 1 and demanded payment from the homeowner. The homeowner refused to pay, and this caused the contractor to be very upset, suffering a minor heart attack, and as a result, incurred medical expenses of $10,000. The reasonable value of the contractor’s services in remodeling the homeowner’s home was $60,000. In an action by the contractor against the homeowner, which of the following should be the contractor’s recovery?