Legal Question in Business Law in Ohio

Re: Liquidiated Damages & Damages

Liquidated damages are set forth in a contract when actual damages are difficult if not impossible to determine. Therefore, if you can determine the extent of the damages, the Court will insist that that be your measure of damages.

Re: Liquidiated Damages & Damages

Dear Mr. Manes: Much of the answer to your inquiry will depend upon the actual terms of the contract, i.e. what provisions were included for such evntualities as to the basic contract and the management agreement? If there were no specifics stated as to damages, for example, the Court will limit its determination to basic principles of law, and case law controlling. In my own opinion, unless specifically anticipated in the agreements, a court will limit an award to the general category of "damages". However, if you can prove, clearly and convincingly, that you are entitled to liquidated damages for the breach and general damages arising out of the acts and relationxhip of the parties, you may be able to convince a court to your entitlement of the duplicate damages you seek. However, I doubt it. Good luck.