This form provides boilerplate contract clauses that outline the remedies available to the parties both under and outside the terms of the contract agreement.
Maryland Limitation of Remedies, Election of Remedies, and the Cumulative Remedies Provision
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How to fill out Limitation Of Remedies, Election Of Remedies, And The Cumulative Remedies Provision?
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For example, a clause in a purchase agreement for a computer limiting damages to $1.00 would effectively deprive the buyer of any adequate remedy.
In the law of civil procedure, election of remedies is the situation in which a winning party in a lawsuit must choose the means by which its injury will be remedied. For example, if a court finds that the plaintiff's painting was stolen by the defendant, then the plaintiff has two possible routes to restore the loss.
The Company acknowledges that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Agreement and the Company hereby agrees to waive the defense in any action for specific performance that a remedy at law would be adequate.
Often, however, the limitation of remedy clauses limits the types of remedies you can pursue. Remedies for contract breach include monetary damages, attorney's fees and costs, cure first provision, binding arbitration, and injunctive relief.
An exclusive remedies clause limits the owner's right to recover for any failure of the contractor to fulfill its contractual obligations to those remedies specified in the contract.
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.
Cantwell, Ben Ray Lujan, Amy Klobuchar and Raphael Warnock introduced the Consumer Protection Remedies Act of 2022 to restore the FTC's authority to go to court and ask a judge to order scammers and lawbreakers to return the money they took from consumers through unfair, deceptive or anticompetitive practices.
1980), the Texas Supreme Court held an election of remedies is only made as a result of an (1) informed choice (2) between two or more rights, remedies, or states of fact (3) which are so inconsistent as to (4) constitute manifest injustice.
