By H. Clay Parker, Esq. | Published July 30, 2021 | Posted in Business Contracts | Tagged Tags: breach of contract, construction contract, liquidated damages | Comments Off on Enforceability of Contractual Liquidated Damages Clauses
Enforceability of Contractual Liquidated Damages Clauses
Liquidated damages are dollar amounts that parties to a contract agree will be paid in the event of a breach. Setting a fixed amount can be preferable to proving actual damages that might be difficult to ascertain when a breach occurs. Florida courts generally recognize the validity of liquidated damages clauses. However, in order to Read More
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How Attorneys’ Fee Provisions in Contracts Can Affect Litigation
It’s customary in the United States that each party engaged in litigation pays for their own lawyer. However, the “’American rule,” as it is called, has exceptions. One of them is where a contract provides for legal fees to be recoverable by one party from another in designated circumstances, such as when one party prevails Read More
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Enforcing Noncompete Agreements in the Florida Courts
Florida generally outlaws contracts in restraint of trade or commerce. An exception is that a company can enter an agreement with an employee, contractor, distributor or vendor that limits them from engaging in conflicting business activities. Sellers of businesses can also be restricted from competing. However, there are several requirements that must be met for Read More
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Defending Against a Mortgage Foreclosure Lawsuit
If you are behind in your mortgage payments and are receiving threatening phone calls and letters from the lender, you are not alone. With Florida’s volatile real estate market, coupled with the COVID-19 pandemic, mortgage foreclosures by lenders have risen substantially. Florida is a judicial foreclosure state. That means lenders must file a summons and Read More
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Enforcing Liquidated Damages Clauses in Construction Contracts
Liquidated damages are amounts of money that parties to a contract agree are to be paid by one party to the other in the event of a breach of contractual terms. Liquidated damages clauses are common in Florida construction contracts, since they guard against the unpredictable losses that property owners, developers and contractors might suffer Read More
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How Will Coronavirus Affect Contractual Relationships and Obligations?
The coronavirus pandemic has disrupted practically every aspect of American life. Whether closed by government order or by concerns about public safety, millions of businesses around the country have seen their operations come to a halt. Despite the overwhelming effect of COVID-19, it is not a certainty that an “Act of God” clause in a Read More
Read MoreMinimizing risk through well-drafted non-compete agreements
Minimizing risk through well-drafted non-compete agreements On behalf of H. Clay Parker, Esq. posted in Business Litigation on Wednesday, December 28, 2016. As a business owner, you know the serious impact that a dispute or contract issue can have on the health and success of your operations. It is possible to avoid such conflicts and minimize Read More
Read MoreOrlando home prices continue to recover in 2013
Orlando home prices continue to recover in 2013 On behalf of H. Clay Parker, Esq. posted in Foreclosure Defense on Sunday, January 19, 2014. The Orlando real estate market finished last year on the up side with a 24 percent increase in the price of homes. The improvements to the Orlando real estate market have been Read More
Read MoreWritten contracts can help to avoid business litigation
Written contracts can help to avoid business litigation On behalf of H. Clay Parker, Esq. posted in Business Litigation on Wednesday, May 6, 2015. A company’s business transactions and ongoing relationships should be put in writing. This will help to minimize contractual disputes and related business litigation. Additionally, a Florida business will benefit greatly by having Read More
Read MoreAn appropriate response to a construction defect
On behalf of H. Clay Parker, Esq. posted in blog on Friday, June 23, 2017. Construction projects are vast, complex and they can take an exorbitant amount of time to complete. Despite seeking bids with various construction companies and doing your homework regarding the right choice of the company to complete your project, things can go Read More
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