Viewing: December 2011

Liquidated Damages Provisions Can Be Your Friend, But Don’t Overreach

Liquidated damages provisions can be a useful way to ensure that you have a remedy if the other party to a contract fails to live up to its end of the bargain. When things go south in a commercial relationship, proving that a breach of the contract has occurred is only half the battle; the […] Read More

The Reading List: IP Draughts

IP Draughts is hands down the best new contracts blog of 2011. It’s published by Mark Anderson, the principal partner at UK intellectual property firm Anderson Law LLP. Mark writes most of the posts himself, although the project is a team effort and includes an occasional post by others at his firm. Some might argue […] Read More

Excellent Law Firm Piece Explaining Indirect Damages

I don’t often link to content located in the nether regions of a law firm’s website, but this piece about indirect damages is worth an exception. It was written by Stephen Brett of the UK intellectual property law firm Anderson Law LLP. Not coincidentally, one of the best contract law blogs I follow is the […] Read More

Eighth Circuit Contracts Cases 2011 (Part 4)

Owatonna Clinic — Mayo Health System sued Medical Protective Company, its medical malpractice insurer, for refusing to defend and indemnify it in a malpractice suit. Medical Protective’s defense was that Owatonna had not complied with the insurance policy’s notice requirements. The United States District Court for the District of Minnesota ruled in favor of Owatonna […] Read More

You Discover a Missing Closing Document—Let Sleeping Dogs Lie?

Pop quiz: You work for a title company. During a routine audit of your closed files you discover that a lien release is missing from a deal that closed a few years ago. Without the lien release your customer’s house remains subject to a lien granted by the residential developer who sold the lot to […] Read More

Eighth Circuit Contracts Cases 2011 (Part 3)

Safety National Casualty Corporation (“Safety National”) engaged Austin Resolutions, Inc. (“Austin”) to negotiate savings on bills from a hospital. The bills were Safety National’s responsibility by virtue of a claim against an excess workers’ compensation policy Safety National had issued. Under the oral agreement between Safety National and Austin, Austin was to be paid 25% […] Read More

The Law of Stuff Isn’t the Same As the Law of Services

You sign two identical contracts with two different suppliers, one to buy stuff and the other to buy services. If both of your suppliers default in the exact same way, your rights will be the same under each contract, right? Probably not, because the law that applies to the sale of goods is not the […] Read More

Postette: Oops…I Meant $2,000, Not $500

If a travel website erroneously lists a low price for air fare and you book a trip, can you hold the airlines to the low fare? As the ContractsProf Blog recently explained, it depends, but you might be able to. The ContractsProf’s post discusses a situation where the published fare was a fraction of the […] Read More

Eighth Circuit Contracts Cases 2011 (Part 2)

Becwood, a Minnesota-based distributor, contracted with Dingxi, a Chinese supplier, to purchase a large amount of organic Kosher inulin. Becwood planned to sell the inulin to Stoneyfield Farm, Inc. for use in yogurt products. Dingxi shipped the product in four separate shipments. Becwood paid for the first shipment in full before its arrival, but then […] Read More

When a Document Says It Isn’t a Contract, It Isn’t a Contract

In his lesser-known recent opinion in which ostriches make an appearance, Judge Richard Posner of the U.S. Seventh Circuit Court of Appeals considered whether a memorandum of understanding and a letter of intent formed binding contracts. As you might have guessed from this post’s title—which is a quote from the opinion—the answer was no. (In […] Read More

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