Liquidated Damages in Contracts

In this episode…Darren Rosenblum, Professor at the Elisabeth Haub School of Law at Pace University explains liquidated damages clausesSome key takeaways... Liquidated damages are damages parties agree to and include in the contract in the event of a breach.Courts are reluctant to enforce liquidated damages clauses if they are dollars used to incentivize parties not to breach (punishments cloaked as damages)When choosing whether to uphold a liquidated damages clause, a court will consider the reasonableness of the damages clause concerning the breach.Courts look favorably on liquidated damages clauses where the harm that would result from the breach is hard to calculate (e.g. the loss of the use of a new road)About our guest…Professor Darren Rosenblum joined the Pace Law faculty in 2004 and became a full professor in 2009. He teaches Contracts, Corporations, and International Business Transactions, and serves as the Director of the Business Law Concentration, Director of Commercial and Private International Law Programs and Faculty Advisor of the Institute for International and Commercial Law. His scholarship focuses on corporate governance, in particular on remedies for sex inequality.Professor Rosenblum clerked in the U.S. District Court of Puerto Rico from 1996-1998 and then practiced international arbitration at Clifford Chance and Skadden, Arps, Slate, Meagher & Flom in their New York offices from 1998-2004. He represented primarily non-U.S. clients in multilingual arbitration and litigation matters. Professor Rosenblum has served as a visiting professor at Sciences Po Law School in Paris, American University and Seattle University and has taught at Fordham and the University of Pennsylvania Law Schools. He has presented his work and lectured in English, French, Spanish, and Portuguese.In 2011, he was a Fulbright Research Scholar in France to perform an empirical study on the French quota for women on corporate boards which he presented as the guest of honor at the French National Assembly.  He also presented this research at the Federal Election Commission (U.S.), the European Commission Justice Department and at workshops and conferences at the law faculties of Chicago, Harvard, Sciences Po, and Yale, among others.Want to learn more about Darren Rosenblum? Click this link: https://law.pace.edu/faculty/darren-rosenblum-As always, if you have any suggestions for an episode topic, please let us know!You can email leslie@lawtofact.com or tweet @lawtofact.-Find us on Twitter, Instagram, and Facebook!Review us on iTunes, your opinion matters!-Want to stay updated on all things Law to Fact?Join our mailing list by visiting www.LawToFact.com.-This episode is sponsored by Kaplan Bar Review. Getting ready for the bar exam means you’ll need to choose the study program that’s right for you. Kaplan Bar Review will get you ready to take on test day with confidence by offering $100 off live and on-demand Bar Review with offer code Leslie100.Visit kaplanbarreview.com today to sign up.