Patricia L. Seifert and Chelsea Croy Smith | Tucker Ellis | March 14, 2016 In the construction industry, owners and developers often rely upon per diem (“per day”) liquidated damages provisions to ensure that projects are completed on time. These provisions typically require the contractor to pay “x” dollars per day for each day that… Continue reading Think that Liquidated Damages Provision you just agreed to is Unenforceable? Think Again
Tag: Liquidated Damages
Prospective Reasonableness: Assessing Liquidated Damages in Construction Contracts
Barbara Jordan | Dinsmore & Shohl LLP | February 24, 2016 Today, the Supreme Court of Ohio ruled that the reasonableness of a liquidated damages provision is determined by prospectively analyzing the per diem amount rather than the aggregate amount of damages assessed. Piketon v. Boone Coleman Constr., Inc., Slip Opinion No. 2016-Ohio-628, involves the late… Continue reading Prospective Reasonableness: Assessing Liquidated Damages in Construction Contracts
Ohio Supreme Court Upholds Liquidated Damages
Eric Travers | Kegler Brown Hill & Ritter | February 24, 2016 Ohio Supreme Court holds that the enforceability of a liquidated damages provision must be analyzed at the time of contracting, not at the end of a project. The Supreme Court of Ohio issued a decision today in Boone Coleman Constr. Inc. v. The… Continue reading Ohio Supreme Court Upholds Liquidated Damages