Do you think they are useful and should be utilized

Assignment Help Business Law and Ethics

Reference no: EM13781113

DF11 - Liquidated Damages Liquidated damages clauses (LD or LDs) have been a source of controversy for lawyers over the years. On the one hand, the traditional view is that an LD is simply a penalty or punitive in nature. As part of our contract law, we want damages to be compensatory, not punitive. Therefore, LDs are not enforceable. Another school of thought suggests just the opposite. In cases where damages may be difficult to quantify and cause expensive litigation, LD serve to provide a formula for calculating damages that the parties have accepted in an arms length negotiation. For more information about LD provisions and drafting, please read this brief article published by Pillsbury Winthrop (a very prestigious law firm): LD Clauses (Links to an external site.)

The question for this DF is what do you think of these types of provisions? Do you think they are useful and should be utilized? What suggestions might you have when drafting these types of provisions.

Reference no: EM13781113

Questions Cloud

Differences between online and traditional learning. : How can an online instructor make the teaching and learning experience more human and personal?

Explain the legal concepts in given case : Explain the legal concepts in given case: Sierra Club v. EPA, 11-73342.

Team strategy plan-conflict management plan : You are part of a group of newly hired team superintendents with Riordan Manufacturing. Your group was hired to lead new teams and begin production of the newly designed CardiCare Valve heart valves.

Calculate using present worth on incremental investment : Proposal will reduce the heat loss by 46% and will cost $2,200. For an interest rate of 12% and a lifetime of 10 years, which proposal should be selected?

Do you think they are useful and should be utilized : The question for this DF is what do you think of these types of provisions? Do you think they are useful and should be utilized? What suggestions might you have when drafting these types of provisions

Discuss various strategies to managing diversity : Discuss various strategies to managing diversity. Describe the steps that can be taken as a manager to ensure that work teams are diverse, and describe how to manage diversity on an ongoing basis.

Explain connecting selected pcs to a network : While working at a customer's site, you realize that the customer could increase productivity by connecting selected PCs to a network. Mentioning this fact to the customer shows your

Would you utilize a letter of credit : With the advent of digital technology, increasingly, even small businesses are becoming global in scope. If you had a sale transaction for $1M, would you utilize a letter of credit

What effects would this have on output and the price level : The U.S has unusually high income elasticity of demand for imports. If the U.S economy had an exceptionally strong year of economic growth, what effects would this have on output and the price level?

User Account

All Pages