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4 Liquidated Damage Provision Drafting Mistakes To Avoid

By Shepard Davidson and Kelly Kirby (November 6, 2017, 3:40 PM EST) -- Even if you are not a litigator, thinking like one when drafting contracts can help you avoid land mines that you otherwise might not know are there. One area where this is especially true is when dealing with liquidated damages. While a liquidated damages provision can be an effective way to fix the amount of money one party will pay to the other if a breach occurs, drafting an enforceable and effective liquidated clause is not as simple as stating, if X breached, then Y gets $1 million. Four of the most common mistakes center around:...

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