Case Study - Liquidated Damages versus Penalties - Dunlop Pneumatic vs New Garage
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In this episode of “IAX World of Contracts,” we explore the 1647 case Paradine v. Jane, a decision that cemented the principle of absolute obligations in contract law. The court ruled that contractual obligations must be upheld, even in the face of unforeseen events. This episode delves into how this ruling shaped the doctrine of…
This episode of “iax World of Contracts” delves into the intricacies of managing delays in construction contracts. Through a detailed case study featuring Apex Construction and the City of Eldridge, listeners will gain insights into the practical steps required to trigger remedies when unforeseen delays disrupt contractual performance. Covering topics such as timely notifications, supporting…
In this episode of IAX World of Contracts, we dissect the Boeing 737 MAX grounding—a case that exposed major flaws in product liability, regulatory compliance, and corporate responsibility. We explore the legal and financial fallout from Boeing’s failure to meet safety standards, including lawsuits, compensation claims, and the grounding of hundreds of planes worldwide. This…
This episode of “iax World of Contracts” delves into the critical topic of stakeholder agreements in public-private partnerships. Through a detailed case study featuring Urban Developments Ltd. and the City of Riverton, listeners will gain insights into the essential components of stakeholder agreements, including roles, responsibilities, decision-making processes, and conflict resolution. Covering practical strategies for…
This episode of “iax World of Contracts” delves into the intricacies of managing hindrances in construction contracts governed by SIA. Through a detailed case study featuring Zenith Builders and the Town of Brookfield, listeners will gain insights into the various remedies available when unforeseen events disrupt contractual performance. Covering topics such as extensions of time,…
In this episode of The World of Contracts, we delve into mutuum, the Roman contract for loans of consumable goods, and explore how force majeure—unforeseeable events like natural disasters—impacted borrower obligations. Through a case study involving a loan disrupted by a flood, we examine the balance Roman law sought between strict contract enforcement and fairness…
This episode of “iax World of Contracts” dives into the significance of framework agreements in sourcing, illustrated through the case study of GlobalTech Innovations. Listeners will gain insights into the key components, benefits, and remedies associated with framework agreements, making this episode a valuable resource for procurement professionals, supply chain managers, and business leaders seeking…
In this episode of The World of Contracts, we explore the Roman mandatum contract, a fiduciary agreement where one party acts on behalf of another. Through a case study involving a landowner and his agent, we discuss the concept of fiduciary duty, the consequences of negligence, and the legal remedies available to a principal when…
In this episode of The World of Contracts, we delve into the Roman contract of Locatio Operis, focusing on how the law addressed defects in work. Through a case study involving a construction dispute between a wealthy landowner and an architect, we explore the borrower’s obligations under the contract, the legal remedies available when contractors…
In this episode of The World of Contracts, we explore Locatio Conductio, the Roman contract for leasing property, through a compelling case study involving a landowner and a negligent tenant. We discuss the lessee’s duty of care, legal remedies available to the lessor, and how Roman law addressed breaches of lease agreements. Learn how the…
This episode of “iax World of Contracts” delves into the critical issue of managing breaches in loan agreements. Through a detailed case study featuring Apex Financial Services and GreenTech Innovations, listeners will gain insights into the practical steps required to address missed payments, including acceleration of the loan, late fees, negotiated payment plans, and legal…
In this episode of IAX World of Contracts, we explore the foundational case Dunlop Pneumatic Tyre Co Ltd v. New Garage & Motor Co Ltd (1915), which established the principles for distinguishing liquidated damages from penalties in contracts. The case set the rule that damages must reflect a reasonable estimate of loss, not act as…