Does your contract contain a liquidated damages provision that is enforceable?
THE LAW ALLOWS MATERIAL SUPPLIERS TO LIMIT A BUYER'S REMEDIES, BUT CAREFUL CONTRACT DRAFTING IS REQUIRED
Detailed agreements often are not reached in the sales of goods. Frequently, such sales consist only of submitting a purchase order, receiving the goods, receiving an invoice, and then payment. So, when a dispute concerning the goods arises, a question may also arise as to exactly what the terms of the parties' agreement were.
Is That Really Your Product?
Arbitration Considerations in Litigating Construction Disputes
Overhead and Profit Must Be Included In Replacement Cost Policy Payout
This article is part of a series of articles which are designed to identify several key clauses that every party to a construction contract should carefully review and understand prior to entering into a contract. This article will discuss "Concealed Conditions", which are site conditions that are different from what was anticipated by the parties at the time they entered into the contract. Read More . . .
As Tom Hagen said to Sonny Corleone in the Godfather, it "is business, not personal." Words to live by. Often in our line of work, clients want their pound of flesh. They want to prove the other side wrong, and make them pay. We, as lawyers, do well from a financial perspective when parties make such decisions personal, instead of looking at them from a business standpoint. We get paid to litigate cases where in the end, nobody except for the lawyers wins from a business perspective. Something to think about when you are in what is a business dispute. Read On . . .
As we have written before, reformation, or correction of mistakes in a contract are not a legal right. While a court can order that a contract be rewritten to take into account some mistakes, the court's ability to do so is limited. The only sure fire way to be certain your contract is consistent with your understanding of your agreement, is to obtain legal consultation before the contract is executed. After execution, you may be bound even to the most egregious of mistakes. Read On . . .
The law regularly changes, but often, business are not keeping up. Long standing practices that have worked for years may seem difficult to change, but failing to do so can be costly. Whether it is required language to be included within your contracts, or limitations of liability that need to be addressed through contract language or insurance, your business must change with the times, or face harsh penalties. The case of Ramcharitar v. Derosins is an example that should get your attention. Read on . . . .