Brendan J. Witry | The Dispute Resolver In Hadley v Baxendale, 9 Ex. 341 [1854], of 1L Contracts lore, the Court of Exchequer set out the dichotomy of direct damages and consequential (or indirect) damages. In the 170 years that have followed, lawyers on both sides of the Atlantic have sought to parse out what are… Continue reading Toolbox Talk Series: Direct Versus Consequential Damages–Is There a Clear Demarcation?
Tag: Consequential Damages
Weathering the Storm—Part 2: Understanding Liquidated and Consequential Damages in Construction Contracts
Patrick Kelly and Kendall Hudgins | Gray Reed When project delays occur due to natural disasters, the financial implications can be severe. Construction stakeholders often focus on immediate physical damages while overlooking the potentially devastating impact of liquidated and consequential damages provisions. Understanding these crucial contract elements before disaster strikes can mean the difference between… Continue reading Weathering the Storm—Part 2: Understanding Liquidated and Consequential Damages in Construction Contracts
Owners Should Exercise Caution When Waiving Consequential Damages Against Architects
Melissa Billig, Kenneth Block, Brandon Reiner, Stuart Rosen and Hillel Sussman | Tannenbaum Helpern Syracuse & Hirschtritt AIA forms of agreements between owners and architects contain mutual waivers of consequential damages which, in the context of such agreements, invariably involve lost profits. Where manuscript forms are provided by an owner, and do not contain such… Continue reading Owners Should Exercise Caution When Waiving Consequential Damages Against Architects
Waiving Consequential Damages—What Could Go Wrong?
Kellie Ros and Curt Martin | ConsensusDocs You are inexcusably late with construction of a football stadium, a casino, or similar project that generates large income for the owner. The indirect damages, often referred to as consequential damages, that flow from the delay can be astronomical to the point of breaking your company if it… Continue reading Waiving Consequential Damages—What Could Go Wrong?
Construction Litigation Roundup: “Life’s a Beach!”
Daniel Lund III | Phelps Dunbar A federal court sitting in the United States Virgin Islands, in the process of partially granting a request for reconsideration asserted by a surety, reaffirmed aspects of the challenged ruling concerning the ability of a claimant to seek “consequential damages” from a performance bond surety – potentially beyond the… Continue reading Construction Litigation Roundup: “Life’s a Beach!”