How Developers Can Avoid Punitive Damages Liability
January 31, 2014, 12:49 PM EST
Law360, New York (January 31, 2014, 12:49 PM EST) -- Defendants often consider demands for punitive damages to be a scare tactic or posturing by plaintiffs — until the case proceeds to trial and the issue is presented to a jury. The unpredictable nature of a jury and potentially large amount of punitive damages can be devastating to a business. What can one do to protect itself?
A case recently decided by the New York Court of Appeals helped answer that question, at least for a real estate developer.