New York Court of Appeals Roundup: Permissible Damages Following Breach of Commercial Tenant Agreements
12.16.20
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In their column in the New York Law Journal, Litigation Partners Bill Russell and Linton Mann III discuss a recent decision in which the Court of Appeals unanimously reaffirmed the principle that “parties are free to agree to a liquidated damages clause provided that the clause is neither unconscionable nor contrary to public policy.” However, the judges split 4-3 on the issue of whether the relevant damages clause in a commercial lease was unenforceable as a matter of law because it was so grossly disproportionate to the ascertainable amount due upon full performance.
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