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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.
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.
She sued for a precise amount of liquidated damages.
Liquidated damage clauses may also be subject to attack.
In connection with cooperative apartments, most courts have upheld liquidated damage provisions measured by a contract down payment often percent.
Liquidated damage provisions are allowed in situations where the actual amount of damages which might result from a party's default would be difficult to calculate.
Interest on late liquidated damages The Dealer~s transport of the natural gas to him reasons directly attributable to fails to commence in date (s) specified in the contract, it can pay default liquidated damages is obliged to.
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.
Liquidated damages 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.
Bases resulting in zero valued payment certificates include a minimum sum to be due before payment is required and the ability to set-off accrued liquidated damages against payments falling due resulting in the payment being extinguished.
EOS and NMT have worked closely together to resolve MRO telescope completion issues, but the potential for liquidated damages to be applied against EOS by NMT had given rise to a specific note (Note 27(a)) relating to a contingent liability in EOS audited financial statements as at 31 December 2009.
Luminant sought liquidated damages of $50 per megawatt hour for the megawatt hours the wind farms failed to deliver.