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Liquidated Damages In Settlement Agreement Not Enforced Claims Administration; Liquidated Damages

Thursday, October 02, 2003 05:37 pm

 
Liquidated Damages In Settlement Agreement Not Enforced Claims Administration; Liquidated Damages

A California court has refused to enforce a liquidated damages provision in a settlement agreement. The prime contractor's missed payments were inadvertent and the contractor promptly attempted to make full compensation.

Peck/Jones Construction Corp. awarded a subcontract to Ray Arce, Inc. to perform plastering work on a project. A dispute developed and Arce sued for damages of $83,815. The matter was referred to mediation and the parties reached a settlement.

Under the terms of the agreement, Peck/Jones was to make seven monthly payment of $5,000 for a total of [...]

 
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