Liquidated damages provisions in Colorado: Alternatives allowed
Are liquidated damages clauses that allow a non-breaching party to elect an alternative remedy (like lost profits) permissible expressions of private parties’ freedom of contract? Or do such alternatives indicate that the parties never intended to liquidate damages, so as to be an invalid penalty?
Taking on a New York project? Study up on the following statutes
As a contractor taking on projects out of state, you should be aware of locale-specific statutes that can catch you by surprise to your detriment. Here’s a look at some New York laws you should be aware of: