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When "Liquidated Damages" Are Not—The Common Law's Abhorrence of Penalties and What You May or May Not Be Able to Do About It | Weil, Gotshal & Manges LLP

To embed, copy and paste the code into your website or blog: As a general rule, courts do not save sophisticated parties from bad deals; instead, courts enforce both good deals and bad deals between sophisticated parties according to the express terms set forth in a written contract. [1] New York is particularly prone to upholding these freedom of contract principles because freedom of contract avoids โ€œjudicial upending of the balance struck at the conclusion of the partiesโ€™ negotiations,๏ฟฝ...
New York United States Columbia University United Kingdom Talal El Makdessi Arthurl Corbin

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