This form provides boilerplate contract clauses that limit the remedies available to the parties both under and outside the terms of the contract agreement. Several different language options representing various levels of restriction are included to suit individual needs and circumstances.
Oklahoma Limitation of Remedies and Damages Provisions
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FAQ
Oklahoma Code Comment § 95 provides a limitation of five years on a contract in writing, and three years on an oral contract.
While the $350,000 cap instituted by Oklahoma did allow limited exceptions for malice, gross negligence, fraud, or reckless disregard, it also placed a limit consistent with other states that implemented similar caps.
In most instances, Oklahoma plaintiffs have a two-year limit from the date of the incident in which to file a lawsuit. Exceptions include defamation (libel or slander) at one year, five years for rent and debt collection or written contracts, and three years for judgments and oral contracts.
Caps on Damages Punitive damages are also capped in the state in an amount that cannot exceed $100,000 or the amount of actual damages awarded, as found in Oklahoma code section 23-9.1.
Damages are imposed if the court finds that a party breached a duty under contract or violated some right. The sum of money included in the damages can be compensatory damages that are calculated based on the harmed party's actual loses, or punitive damages intended to punish the wrongdoer.
Limitations on Damages In most personal injury cases, a plaintiff may recover all of their economic damages and up to $350,000 of non-economic damages regardless of the number of defendants or the number of actions brought by the plaintiff. Okla. Stat.
The amount of punitive damages cannot exceed the greater of $100,000 or the amount of actual damages awarded in the case. However, the cap for punitive damages is different if the defendant or an insurer acted maliciously and intentionally.
In Canada, save in exceptional circumstances, there is a cap to the amount that an injured person may recover under this category of damage. The cap was established back in 1978 by the Supreme Court of Canada at $100,000. Over the years this value has been adjusted and in 2023 the cap is approximately $400,000.