Liquidating losses finland singles dating

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But even though many courts apply the same general principles, some courts impose a higher standard to invalidate a liquidated damages clause.And as noted above, some jurisdictions only require that liquidated damages be reasonable prospectively, while other courts also consider the actual losses sustained.Courts will not enforce provisions for liquidated damages that are deemed to be a penalty, and owners can take precautions at the time of contracting to prevent liquidated damages from being held unenforceable on this basis.

And a few jurisdictions (such as Connecticut and Rhode Island) will not enforce liquidated damages clauses if the injured party cannot prove it has sustained at least some actual harm or damage, regardless of whether the liquidated damages were reasonable when viewed prospectively.During construction and commissioning of large-scale energy projects, every day of delay or failure to meet plant performance requirements can result in the owner incurring substantial damages.Indeed, power industry owners can incur damages such as additional financing and administrative costs, in addition to lost operating revenues, if the plant cannot operate as scheduled.As the Colorado Supreme Court explained, parties have the freedom to contract for alternative remedies, as long as they do not pursue both.Owners may benefit from optional clauses in jurisdictions where they are enforceable.

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