Indiana Limitation of Remedies, Election of Remedies, and the Cumulative Remedies Provision

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This form provides boilerplate contract clauses that outline the remedies available to the parties both under and outside the terms of the contract agreement.

Indiana Limitation of Remedies refers to the legal principles in the state of Indiana that limit the available remedies for certain types of breaches or violations. These limitations serve as a way to ensure fairness and prevent excessive or unfair damages. One of the key types of limitation of remedies in Indiana is known as the "Limitation of Liability Clause." This provision limits the amount of damages that can be awarded in a contractual agreement or legal dispute. By including this clause in a contract, parties can protect themselves from excessive liability and potential financial burdens. Another type of limitation of remedies in Indiana is the "Exclusion of Consequential Damages." This provision prevents parties from seeking compensation for indirect or consequential damages that result from a breach of contract or other legal violation. It aims to narrow the scope of potential damages and limit liability to direct and foreseeable losses. In addition to limitation of remedies, Indiana also recognizes the principle of "Election of Remedies." This principle requires plaintiffs to choose and pursue a specific remedy for a particular claim. It prevents double recovery and ensures that parties cannot seek multiple remedies for the same harm suffered. By electing a remedy, the plaintiff must focus on pursuing that particular course of action. Moreover, Indiana law includes the "Cumulative Remedies Provision." This provision allows claimants to pursue multiple remedies simultaneously. It recognizes that certain legal claims may have overlapping remedies, and individuals should not be restricted to choose only one. This provision gives parties the flexibility to pursue different remedies that may provide the most suitable relief for their specific circumstances. Overall, Indiana Limitation of Remedies, Election of Remedies, and the Cumulative Remedies Provision are important legal concepts that govern the available remedies and the way they can be pursued in the state. These principles aim to strike a balance between protecting the rights of parties and ensuring fairness and efficiency in legal proceedings.

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In the event of a breach that triggers the liquidated damages provision, the liquidated damages are the exclusive remedy of the non-breaching party (i.e., make sure that if your contract has a cumulative remedies provision, it does not apply to breaches that trigger the liquidated damages provision and associated ...

In many agreements, you may find a clause labeled ?limitation of remedy.? This clause is largely similar to a limitation of liability clause in that it controls how much responsibility a company has under a contract. Often, however, the limitation of remedy clauses limits the types of remedies you can pursue.

Recognize that there are two general categories of remedies: legal and equitable. See that courts do not simply order obligors to keep their promise but instead allow them to breach and the nonbreaching party to have remedies for that breach.

General Contract Clauses: Cumulative Remedies (with Exclusive Remedies Carve-Out) A Standard Clause stating the parties' intention to express rights and remedies set out in the agreement are cumulative and in addition to any other rights or remedies provided by law or equity, and not in substitution for them.

Essentially, exclusive remedy provisions restrict a party's available remedies for specified claims to the remedies set out in the contract and exclude the party from seeking other types of remedies for that action.

Each right, remedy and power hereby granted to the Beneficiaries or allowed it by applicable law or other agreement shall be cumulative and not exclusive of any other, and may be exercised by the Beneficiaries at any time or from time to time.

A provision in a preferred stock issue that prevents common stock paying a dividend as long as there are arrearages on the preferred stock.

There are three type of remedies which the plaintiff (person who brings an action in a court) which are damages, specific performance and injunction. These remedies will be given to the plaintiff ing to the losses that he or she had faced.

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The Clerk of the Court shall use the information set forth in the appearance form for service by mail, FAX, and e-mail under Trial Rule 5(B). (H) Withdrawal of ... Sep 17, 2018 — A cumulative remedies provision, if purposefully chosen, also will remove possible ambiguity about whether “special” remedies provided in one ...Sec. 2. (a) "Actual damages", for purposes of IC 34-15-3, includes all damages that the plaintiff may have suffered in respect to the plaintiff's character, ... Cumulative Remedies. No remedy or election hereunder shall be deemed exclusive but shall, wherever possible, be cumulative with all other remedies at law or in ... (2) Where circumstances cause an exclusive or limited remedy to fail of its essential purpose, remedy may be had as provided in IC 26-1. (3) Consequential ... In addition, there is an overriding possibility of a 15-year limitation under the catch-all clause of the statute"° for breach of fiduciary duty. It should ... by A Ritchie · Cited by 3 — REMEDIES. 6.1 Cumulative Remedies. A cumulative remedies provision is included in a contract to avoid the common law election of remedies doctrine. The issue ... A remedies clause description setting out remedies for breach that the parties have typically negotiated and included in the contract. by TF Kiely · Cited by 9 — In this Article, Professor Kiely presents a unified Remedies approach to the legal concepts of Damages, Equity, and Restitution. He surveys. and every such remedy is cumulative and is in addition to any other remedies, existing ... to and not a limitation of any other remedies available to the City.

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Indiana Limitation of Remedies, Election of Remedies, and the Cumulative Remedies Provision