Drafting Liquidated Damages Clauses

course

COURSE INFO

  • Available Until 1/23/2022
  • Next Class Time 10:00 AM PT
  • Duration 60 min.
  • Format MP3 Download
  • Program Code 01232019
  • MCLE Credits 1 + hours


Course Price: $65.00
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COURSE DESCRIPTION

 

Liquidated damages clauses are a risk allocation tool used across business, commercial, real estate and sometimes employment agreements.  On the occurrence of certain carefully defined triggering events, the breaching party is liable for the liquidated damages amount.  Triggering events run the gamut from failure to deliver marketable products on a timely basis to early termination of an employment contract, and countless other examples.  Though these clauses are intended reduce the cost of post-closing litigation over damages, the scope of damages is not always knowable at closing and poorly drafted clauses actually stoke substantial litigation over scope and enforceability.  This program will provide you a real world guide to the essential elements of enforceable liquidated damages clauses and how to anticipate and defeat challenges to them.

  • Framework of law governing liquidated damages clauses
  • Elements of a clauses – damages difficult to quantify and liquidated amount reasonably related to actual damages
  • Drafting guidance on optionality, specificity, self-justification, and triggers
  • Circumstances in which clauses are most effectively used – and those where they are ineffective
  • Practical tips of enhancing enforceability and collecting damages

Speaker:

Shannon M. Bell is a member with Kelly & Walker, LLC, where has litigates a wide variety of complex business disputes, construction disputes, fiduciary claims, employment issues, and landlord/tenant issues.  Her construction experience extends from contract negotiations to defense of construction claims of owners, HOAs, contractors and tradesmen.  She also represents clients in claims of shareholder and office liability, piercing the corporate veil, and derivate actions.  She writes and speaks on commercial litigation, employment, discovery and bankruptcy topics.  Ms. Bell earned her B.S. from the University of Iowa and her J.D. from the University of Denver.