Matthew DeVries | Best Practices Construction Law When I draft and negotiate construction contracts—whether representing contractors, subcontractors, or owners—there’s always one provision that seems to get special attention: the waiver of consequential damages. For good reason. It can significantly impact both parties’ exposure if things go sideways on a project. So what are “consequential damages,”… Continue reading When Delays Cost More Than Time: Understanding Consequential Damages
Tag: Consequential Damages
If It’s Not In The Contract, Don’t Count On Consequential Damages
Jose A. Aquino | Duane Morris A recent decision by the New York State Supreme Court, Appellate Division, Fourth Department, in James Vermillion v. The Roofing Guys, Inc., sheds light on the limitations of consequential damages in breach of contract cases. The ruling reinforces the principle that damages are only recoverable if they were reasonably contemplated… Continue reading If It’s Not In The Contract, Don’t Count On Consequential Damages
Weathering the Storm—Part 1: 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 1: Understanding Liquidated and Consequential Damages in Construction Contracts
Toolbox Talk Series: Direct Versus Consequential Damages–Is There a Clear Demarcation?
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?
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