Can I Recover Liquidated Damages?
Many times, you can recover liquidated damages in a breach of contract case. Liquidated damages are presumed to be valid. The only thing you have to prove is that the amount stated for liquidated damage in the contract bears a reasonable relationship to the range of harm that the parties reasonably anticipated at the time they signed the contract. They are recoverable in most cases.
Can I Ever Recover Exemplary Damages?
You cannot recover punitive or exemplary damages in a breach of contract case. Sometimes, business people make a decision to breach a contract for economic reasons. They are going to have to pay damages, but the damages they pay might be less than the benefit they can get from a different contract. In order to allow for those types of decisions, there are no punitive or exemplary damages in breach of contract cases.
What Is Repudiation?
Repudiation is often referred to as anticipatory repudiation. What that means is one party states, before the time a performance is due, that they are not going to perform the contract. If that happens, the other side does not have to wait until the time for performance is due to consider the contract at an end. They can proceed immediately, treat the contract as terminated and sue for damages.
For more information on Recovering Liquidated Damages, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (323) 653-3900 today.
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