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Daily Archives: Monday, December 17, 2018

Posted: December 17, 2018

Contract’s Liquidated Damages Clause Held to be an Unenforceable Penalty

On November 30, 2018, Justice Bransten of the New York County Commercial Division issued a decision in Perseus Telecorn, LTD. v. Indy Research Labs, LLC, 2018 NY Slip Op. 33083(U), holding that a contract’s liquidated damages clause was an unenforceable penalty, explaining: Moreover, even if, as Perseus alleges, Indy had agreed to the terms of the... Read more »