Liquidated Damages: Clause in Equipment Lease Held Unenforceable as Not Being a Reasonable Assessment of DamagesEquipment leasing is a popular form of financing, but when an equipment lease ends prematurely,...Weissman, Michael L
Related to Liquidated damages clause:Penalty clause (Law)damages the amount of which is fixed or ascertained. - Abbott. See also:Liquidate Webster's Revised Unabridged Dictionary, published 1913 by G. & C. Merriam Co. Want to thank TFD for its existence?Tell a friend about us, add a link...
6. What is the test for a valid liquidated damages clause? The test for a valid liquidated damages clause is statutorily prescribed. A liquidated damages clause “shall be held valid and not a penalty, when such amount does not exceed five percent of the purchase price.” 15 Okla. Stat....
“Section 1671, subdivision (b), provides that a liquidated damages clause ‘is valid unless the party seeking to invalidate the provision establishes that the provision was unreasonable under the circumstances existing a...
Exceptions to Liquidated Damages. 48 EXHIBITS* Exhibit B Legal Description of the Premises Exhibit D Franchise Agreement Exhibit E-1 Form of Franchisor Comfort Letter in favor of Purchaser Exhibit E-2 Form of Franchisor Comfort Letter in favor of Mortgagee Exhibit H Form of Operating Lease Exhibit...
❖Liquidated damages clause: the amount the parties have set is a genuine estimate of the damages that would result from the breach of contract. (quasi judicial function)❖However, if a clause is inserted that is set at a deliberately high amount in order to deter a party from breaching ...
aSubject to sub clause 3.3 below, Purchaser is responsible for and will hold JDSU harmless against any consequences, including but not limited to damages, liquidated damages, penalties, costs and expenses (collectively “Damages”) arising out of or in connection with the End Customer Contracts. ...
In the authors' view, a number of courts have not properly applied the Article 2A formula. Finally, this Article provides a methodology for how a liquidated damage clause in a lease should be analyzed under Article 2A. This proposed solution would be both more consistent with the intent of ...
Liquidated damages (redirected fromLiquidated Damage) Legal Financial Encyclopedia (Law)damages the amount of which is fixed or ascertained. - Abbott. See also:Liquidate Webster's Revised Unabridged Dictionary, published 1913 by G. & C. Merriam Co. ...