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Substantial Completion Determined By Conveyance Liquidated Damages; Substantial Completion

Tuesday, August 03, 2004 02:32 pm

 
Substantial Completion Determined By Conveyance Liquidated Damages; Substantial Completion

A Texas court has ruled that a contractor was properly assessed liquidated damages for the period between the contract deadline and conveyance of the completed structures.

Armando Gutierrez, doing business as Strong Hold Construction, contracted to construct two commercial buildings on adjoining lots he owned in McAllen, Texas. Upon completion, Gutierrez was to convey ownership of the lots and buildings to two separate buyers. Each contract stipulated a completion deadline and called for liquidated [...]

 
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