Date: 05/12/2019
Time: 1:00 pm - 2:00 pm
Speaker - Keith Markham

Liquidated damages clauses are commonly found in commercial contracts but their enforceability can often be questioned. Since the landmark decision of the Supreme Court in Cavendish v El-Makdessi and Beavis v Parkingeye in 2015, the courts have now sought to apply these principles in a series of cases. This webinar sets out an overview of the key issues to be borne in mind when drafting such a clause. Topics will include:

  • what does ‘liquidated damages’ mean?
  • how do the courts distinguish between a liquidated damages clause and a penalty clause?
  • what is a ‘legitimate interest’?
  • how do I ensure that the amount inserted is not ‘extravagant, exhorbitant or unconscionable’?
  • will a default rate of interest be treated as a penalty?
  • to what extent will a liquidated damages clause apply to work that has not been completed?
  • will liquidated damages always be subject to limitation of liability provisions?

Keith Markham

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