Using A Contractual Consequential Damage Limitation

Law360, New York (October 13, 2011, 3:03 PM EDT) -- A consequential damage limitation can be a useful tool in limiting a party’s product liability exposure. The consequential damage limitation is commonly used in construction contracts but may also be used in contracts for the sale of goods. When combined with the economic loss doctrine, a properly drafted consequential damage limitation can shield a manufacturer from millions of dollars in liability stemming from personal injury, property damage and other economic losses. Although a useful tool, a provision that limits consequential damages creates its own unique challenges,...
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