Red Sea VDC

Main Menu

  • All-Equity Rate
  • Liquidation
  • OPEC
  • Requests for Proposal (RFP)
  • Cash

Red Sea VDC

Header Banner

Red Sea VDC

  • All-Equity Rate
  • Liquidation
  • OPEC
  • Requests for Proposal (RFP)
  • Cash
Liquidation
Home›Liquidation›Damages in construction contracts: an “exclusive remedy” for delays in New York?

Damages in construction contracts: an “exclusive remedy” for delays in New York?

By Loriann Hicks
June 15, 2021
0
0



The split 4-3 decision of the New York Court of Appeals in The Trustees of Columbia University in New York City c. D’Agostino Supermarkets, 36 NY3d 69 (2020) questioned predictability the treatment by the courts of what most saw as a foolproof contractual clause: damages. See Adam Leitman Bailey and Dov Treiman, “An Unsettling Decision for Liquidated Damages in Settlement Agreements”, New York Law Journal (February 16, 2021). The majority concluded that the damages clause in a commercial lease waiver agreement between two well-advised sophisticated parties was an unenforceable penalty because it resulted in damages grossly disproportionate to the amount of the actual damages (seven times the actual damage). The dissent, focused on freedom of contract, would have confirmed the provision as not violating public order.

The potential determination that damages are not necessarily exempt from a “disproportionality” challenge is not the only potentially problematic aspect of damages, particularly in the context of construction contracts. Accordingly, special consideration should be given to the development and drafting of damages provisions under New York law.



Related posts:

  1. Let’s Make a Deal: Abbeville Will get a Clearance Retailer | Information
  2. “ Luxurious salaries, giant loans to administrators ” at Dolphin Worldwide Group liquidated
  3. Bitcoin breaks $ 60,000; ~ $ 500 million of shorts liquidated in hours
  4. Shut Enterprise Now Liquidation Service | state

Categories

  • All-Equity Rate
  • Cash
  • Liquidation
  • OPEC
  • Requests for Proposal (RFP)

Recent Posts

  • Dollar gains, stocks turn south on Fed-induced slowdown fears
  • rfp: RLDA invites RFP for upgrading of Muzaffarpur Railway Station in Bihar
  • Cascade Acquisition Corp. announces its liquidation
  • SRP wants ACC to overturn Coolidge gasworks rejection
  • Nigeria’s oil production drops to 1.2 mbd in April 2022
  • Terms and Conditions
  • Privacy Policy