This form provides boilerplate contract clauses that outline the remedies available to the parties both under and outside the terms of the contract agreement.
Ohio Limitation of Remedies is a legal principle that restricts the type and amount of relief an injured party can seek in certain situations. It serves as a protection for defendants against excessive or disproportionate liability. One type of Ohio Limitation of Remedies is referred to as the economic loss doctrine. Under this doctrine, if a party suffers only economic loss (such as financial damages) due to a breach of contract or negligence, they are typically limited to seeking recovery through contractual remedies, such as compensation for the direct damages incurred. As a result, they are typically not allowed to pursue additional tort claims for non-economic damages, such as emotional distress or pain and suffering. Election of Remedies is a legal principle that allows a party to choose between different available remedies when seeking relief for a legal violation. In Ohio, the doctrine of Election of Remedies requires a party to make a definitive and intentional choice regarding the specific remedy they wish to pursue, rather than seeking multiple remedies for the same legal dispute. For example, if an injured party is harmed by a defective product, they may need to choose between filing a product liability lawsuit or seeking compensation through a product warranty claim. Once the party makes a decision to pursue one of these remedies, they are typically bound by that choice and cannot later pursue a different remedy for the same injury. The Cumulative Remedies Provision in Ohio refers to the legal principle that allows parties to seek multiple remedies for the same legal violation. This provision ensures that injured parties have various options for seeking relief when their rights have been violated, rather than being limited to a single remedy. For example, if a party is injured due to a breach of contract, they may be entitled to both specific performance (compelling the breaching party to fulfill their contractual obligations) and monetary damages. The Cumulative Remedies Provision in Ohio allows the injured party to pursue both forms of remedies concurrently if appropriate. In summary, Ohio Limitation of Remedies, Election of Remedies, and the Cumulative Remedies Provision are three interrelated legal concepts that regulate the type and availability of relief a party can seek in different situations. While there may be various types and applications of these principles, their underlying purpose is to balance the rights of injured parties with the need to avoid excessive or disproportionate liability for defendants.
