Business and Management

A manufacturer delivers a new tractor to Farmer Ted on the first day of the harvest season. But the tractor will not start. It takes two weeks for the right parts to be delivered and installed. The repair bill comes to $1,000. During the two weeks, some acres of Farmer Ted’s crops die. He argues in court that his lost profit on those two acres is $60,000. The jury awards the full $1,000 for the tractor repairs, and $60,000 for the lost crops. Identify the two types of awards. Is it fair that Farmer Ted received 60 times the value of the repair bill for his lost crops?

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