Legal Question in Business Law in Virginia
Performance Damages in Banquet Contract
I'm party to a contract with a hotel that states an estimated minimum of $10000 will be spent on the event. Another clause states that, ''If the event is held but the hotel does not realizae the total anticipated revenue, I must pay performance damages. Damages owed will be the amount necessary for the hotel to receive no less than 80% of the total anticipated revenue.'' Does this mean that if attendance at the event is low, my bill could be as low as $8000?
2 Answers from Attorneys
Re: Performance Damages in Banquet Contract
I have no idea. The language is vague and confusing to me. Language like this tends to lead to lawsuits. It needs to be re-drafted by a competent drafter and all terms need to be clearly defined with examples re: attendance and performance, etc. Good luck.
Re: Performance Damages in Banquet Contract
No, I don't see that at all. Without knowing the figure for the hotel's anticipated revenue, how could you calculate your bill as possibly 8K?
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