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Liquidated Damages: History, Purpose and Modern Applications (CCL950Z)

Presented By : Zach Jones
(*) Single User Price. For multiple users please call 1-800-223-8720
Pre Recorded Webinar
60 minutes
  •  Wed, September 23, 2015
Event Description
See the sneak peek before you buy!
 

Understand the Law of Liquidated Damages with Updated Case Law and Delve Deeper into the  Underlying Legal Principles at Play

The situation is all too common: The contract provides liquidated damages (LDs) for delay, the contractor was late, and now the owner is withholding those LDs from the final payment. The contractor wants to know if the owner can actually withhold the LDs. Likely, the contractor will blame one or more of its suppliers or subcontractors. The owner will also be blamed. At the same time, the owner is calling its lawyer and making sure it can actually do what the contract seems to make pretty clear. These are the situations construction lawyers deal with all too often.

This presentation by expert speaker Zach Jones explains the law of liquidated damages with updated case law and a deeper explanation of the underlying legal principles at play when courts are asked to either enforce or avoid liquidated damage clauses.

Liquidated Damage clauses have a long and storied history dating back to the very beginning of courts of law (and the court of the ecclesiastical chancellor?) as we know them. Since that interesting and relevant beginning, courts have struggled to reconcile the historical disfavor with which liquidated damages clauses were viewed and the desire to allow people to freely enter into contracts. Often, reading modern court opinions addressing liquidated damages leaves as many questions as it answers.

Questions, such as what's the difference between first and second restatement approach? Why some courts only talk on unconscionability? Why is it important for courts to decide that the liquidated damage clauses aren't penalties? Why can't courts simply enforce terms of agreement? etc. are asked. Fortunately, there are answers. This session explores both the past and present cases to explain the whys, wheres and hows that underpin modern American Jurisprudence addressing liquidated damages.

Key Takeaways:

  • Gain a valuable understanding of LDs
  • Learn successful defenses to LDs
  • Learn about the important circumstances to watch out for when you work on a contract with LDs

Session Highlights:

  • The history and purpose of liquidated damages;
  • How the modern rules developed and are applied today;
  • Circumstances where courts will not enforce liquidated damages;
  • Which party bears the burden to prove the enforceability, entitlement, and calculation of LDs;
  • Differences between LDs on public and private projects;
  • LDs: Understanding and successful defenses
  • The important circumstances to watch out for during contract with LDs

Who Should Attend

  • CEOs and business unit managers;
  • Project managers, engineers, and superintendents;
  • Estimators and Business Development Professionals;
  • CFOs and Controllers;
  • Consultants who work with contractors and manufacturers.
  • Constructors, suppliers and owners
About Our Speaker(s)

Zach Jones, Construction Law ExpertZach Jones
Zach Jones is a construction attorney in Louisville, Kentucky, with the firm of Stites & Harbison who represents contractors across the country and around the world.  Prior to becoming an attorney, Zach was a project engineer and estimator for W.L. Hailey & Company (now Layne, ENR Top 400 #53).  Havin... More info

 
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    Subject: You might be interested in this event from AudioSolutionz
    Event Title: Liquidated Damages: History, Purpose and Modern Applications
    Presenter(s): Zach Jones

 
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