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Business Litigation
- Factors to Consider for your NY or NJ Partnership Agreement
- Quality Pleadings are Important If you are Involved in a New York Business Dispute
- Corporate Dissolution a Critical Tool for Small Business Owners Faced with a "Partnership Dispute" with a Controlling Shareholder
- Partnership Disputes in New York and New Jersey
- Factors to Consider When Hiring a Business Lawyer in New York or New Jersey
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Business Litigation
- Factors to Consider when Dealing with a Partnership or Shareholder Dispute in New Jersey
- New York Partnership Disputes: Fiduciary Duties and Obligations Between Partners and Shareholders
- Preliminary Injunctions and Temporary Restraints in New York and New Jersey
- The Significance of "Liquidated Damages" Provisions and How to Defend them in Litigation
- "Promissory Fraud" and Its Significance in Business Disputes in New York
Q: What is a "liquidated damages" clause.
A: A "liquidated damages" clause is a provision contained in a contract where the parties to the contract establish a set amount as damages in the event of a breach of the contract. Liquidated damage clauses are included in contracts to (a) dissuade a party from breaching the contract and (b) reduce litigation costs by having a set agreement as to the amount of damages or the method for calculating damages in the event of a breach and dispute. Liquidated damage clauses are expressed in terms of actual dollars (i.e. a fixed sum that the parties agree to pay if they are found to have breached the agreement) or in terms of a method of calculating the damages based on a fixed formula.
Liquidated damage provisions are utilized in many business agreements, including franchise agreements, real estate contracts, trademark license agreements and vendor agreements. If you are involved in a business contract dispute, the existence or non-existence of a liquidated damages clause is a material factor that must be considered and discussed with your business lawyer.
Charles N. Internicola is an accomplished New York and New Jersey business litigation attorney who represents and defends the business interests of his clients in lawsuits involving business disputes, partnership disputes, trademark infringement and unfair competition. If you are involved in a business dispute and require the services of a seasoned business litigation attorney in New York or New Jersey, contact Charles N. Internicola, to discuss the litigation services that he offers. As a business attorney, Charles is the author of "An Entrepreneurs Guide to Purchasing a Business" and he is the publisher of the "New York Franchise Law Blog".
IMPORTANT DISCLAIMER: The information contained on this website is provided for general educational purposes only, should not be relied on as legal advice and does not serve to create an attorney client relationship. In utilizing this website you acknowledge that there is no attorney client relationship between you and Charles N. Internicola, Esq. and that the information contained on this site does not and cannot serve as a replacement for the competent legal advice of a licensed attorney in your state. The content of this website is subject to the Copyright of its author, Charles N. Internicola, Esq.
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