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Terry's Toys is a Toy Manufacturer who has an agreement to provide Toys to an...

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Terry's Toys is a Toy Manufacturer who has an agreement to provide Toys to an online re-tailer. The retailer has ordered 500 toys from Terry and Terry has incurred costs of £3000 manufacturing the toys. Halfway through production the retailer calls Terry to cancel the order. Terry reads through the contract and sees a liquidated damages clause of £1000. What should Terry do?

A.

Terry can apply to the court to increase the liquidated damages to £3000

B.

Terry can sue the retailer for the additional costs incurred above the liquidated damages

C.

Terry can deliver the toys as agreed as there is a contract in place

D.

Terry can do nothing and must pay the additional £2000 out of his own pocket

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