Polsinelli Podcasts - Removing Caps on Punitive Damages: What is the Impact on Business?
The transition to online shopping, interest rate increases, labor costs, maturing debt and rising inflation have collectively taken a significant toll on the retail industry, contributing to store closures and a growing...more
When two companies negotiate a subcontract in support of a federal government prime contract ("federal subcontract"), they may include provisions capping their liability to each other at specific amounts. In structuring such...more
A pair of cases in the past two years have come to opposite conclusions about whether general damages can be capped by contract provisions for liquidated damages. Liquidated damages clauses are a common feature of...more
Liquidated damages provisions are commonplace in construction contracts. One would think that given the strong Texas public policy favoring freedom of contract, bargained for liquidated damages would be easily enforceable in...more
The UK Supreme Court recently handed down a highly anticipated judgment on the interpretation of clauses which pertain to liquidated damages and limitations on a contractor’s liability for damages. Most notably, the Supreme...more
Should divided panels of federal appellate courts really be deciding state-law issues of first impression? That’s what happened last month in Lindenberg v. Jackson National Life Insurance Co. In Lindenberg, two Sixth Circuit...more
In 2011, Tennessee Governor Bill Haslam signed the Tennessee Civil Justice Act, a tort reform measure limiting monetary damages. Tenn. Code Ann. § 29-39-104. This law places a cap on punitive damages of two times the...more
Acquisition agreements frequently contain maximum limits or “caps” on the sellers’ potential liability for losses resulting from breaches of the sellers’ and target company’s representations and warranties. However, the...more