Liquidated Damages Clause Found Not to Be Unconscionable
- Jul 19 2021
Commercial contracts often include a liquidated damages clause that provides for the payment of a predetermined amount of damages in the event of a breach by one of the parties. …
Category: Liquidated Damages
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THE APPELLATE DIVISION, SECOND DEPARTMENT, ADDRESSES BUYER’S SPECIFIC PERFORMANCE CLAIM UNDER A REAL ESTATE CONTRACT IN THE FACE OF SELLER’S INABILITY TO CONVEY GOOD TITLE
- Jan 22 2021
In one of our BLOGS from last week, we addressed the remedy of specific performance in breached real estate contracts [HERE]. The BLOG noted that, under certain circumstances when monetary …
New York Court Appeals Holds Liquidated Damages Provision in a Surrender Agreement to Be an Unenforceable Penalty
- Nov 30 2020
In Trustees of Columbia Univ. in the City of N.Y. v. D’Agostino Supermarkets, Inc., 2020 N.Y. Slip Op. 06937 (Nov. 24, 2020) (here), the New York Court of Appeals was …
FOURTH DEPARTMENT HOLDS THAT PRELIMINARY INJUNCTIVE RELIEF IS NOT AVAILABLE FOR BREACH OF A CONTRACT WITH A LIQUIDATED DAMAGES CLAUSE BECAUSE CONTRACTUAL MONETARY DAMAGES UNDERMINES THE “IRREPARABLE HARM” ELEMENT
- May 6 2020
Article 63 of New York’s Civil Practice Law and Rules (“CPLR”) governs, inter alia, the provisional remedy of the preliminary injunction. Thus, CPLR 6301 provides, in relevant part: Grounds for …
Court Holds Party Fails to Make Prima Facie Entitlement to Liquidated Damages Despite Breach of Agreement
- Jan 15 2020
Commercial contracts typically include a liquidated damages provision that allows for the payment of a predetermined amount of damages in the event of a breach by one of the parties. …
Court Holds Liquidated Damages Clause to be an Unenforceable Penalty
- Dec 24 2018
Commercial contracts often include a liquidated damages clause that provides for the payment of a predetermined amount of damages in the event of a breach by one of the parties. …
