21 million, or the total of the project cost and the discrepancy in the imposition of liquidated damages
Demurrage as a Provision for Liquidated Damages
under UAE Law
The importance of liquidated damages
clauses are two-fold: They make the tenant think twice before breaching the lease or overstaying it, thus reducing the traffic in landlord-tenant court; and they allow the landlord an award of its full damages as it envisions them at the time of the writing of the lease.
may be structured in a variety of ways, such as a flat amount or a fixed cost per item, and are intended to put an amount on damages that otherwise may be difficult to ascertain or calculate.
Most commonly we associate liquidated damages
But if the amount of actual damages that would probably be suffered by the firm is readily ascertainable when the contract is made, or the amount fixed as liquidated damages
is conspicuously disproportionate to the foreseeable loss, the liquidated damages
clause will not be enforced; instead, it will be characterized as a penalty (Bates and Central Irrigation Supply).
The recent completion of key performance items permanently and irrevocably removes any prospect of liquidated damages
being applied to EOS by NMT.
In Part II, I analyze the possible effects of liquidated damages
in light of evidence from experimental psychology and economics on behavioral responses to incomplete contracts and mild sanctions.
229) Under the liquidated damages
scheme, an employer could be liable for "double damages" of the actual damages suffered by the plaintiff.
A well-drafted liquidated damages
clause can provide an employer with an added layer of protection in fighting to protect its customer base.
Arkansas Courts have ruled that where a construction contract is substantially performed within the time limit, delay in completion of minor details which does not cause material damage to the project will not subject the builder to liquidated damages
provisions in leases: Property owners and managers should focus their attention on risks associated with improperly drafted late fee provisions in their leases.
In addition to the back wages, the owners of JBL Cal Apparel, Louis and Raymond Wang, also must pay another $59,787 in liquidated damages
The ruling did not address the employment tax treatment of liquidated damages
paid by an employer to an employee as part of a settlement.
Klyap also signed a form acknowledging responsibility for reading the teachers' handbook, which included the same liquidated damages