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Contract Drafting Liquidated Damages Damages

Akin Gump Strauss Hauer & Feld LLP

Take or Pay: Does the Law of Penalties Apply?

Q2 2020 saw a tangible increase in the number of queries from clients asking about the enforceability of take or pay clauses common in supply agreements. Intermingled with questions around force majeure, the key issue appears...more

Morgan Lewis

Contract Corner: Liquidated Damages Clauses

Morgan Lewis on

A liquidated damages clause can be a useful tool in a contract to reduce uncertainty and the time and resources spent on potential disputes. Liquidated damages clauses specify the amount of damages to be paid by the breaching...more

PilieroMazza PLLC

Drafting Valid Damages Provisions in Settlement Agreements

PilieroMazza PLLC on

Often thought of as a formality that should take minimal effort and expense to prepare, the drafting of the settlement agreement can quickly turn into a “devil in the details” scenario. One or more of the parties to the...more

King & Spalding

A Cautionary Tale: English Courts Further Depart from a Traditional Approach to Liquidated Damages in Unaoil v Leighton

King & Spalding on

In September 2014, the Commercial Court handed down an unprecedented decision, finding that a liquidated damages ("LD") clause in a contract was a "genuine pre-estimate of loss" at the time the parties entered into the...more

Snell & Wilmer

Anticipating Earnest Money “Damages” – Don’t Assume It

Snell & Wilmer on

The Arizona Supreme Court issued an opinion last month in Thomas v. Montelucia Villas, LLC, 2013 Ariz. LEXIS 152 (June 14, 2013) that adds a few wrinkles to efforts by sellers in real estate transactions to retain “earnest...more

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