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.
Pennsylvania Limitation of Remedies and Damages Provisions
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How to fill out Limitation Of Remedies And Damages Provisions?
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FAQ
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.
Damages, injunctions, and specific performance are some examples of legal remedies. Some of the most common types of legal remedies or damages in contract law are compensatory remedies, punitive remedies, consequential remedies, and expectation remedies.
A limitation of damages clause is a contractual agreement where parties either exclude or limit the availability of damages that statutory law otherwise entitles them to.
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.
--Consequential damages may be limited or excluded unless the limitation or exclusion is unconscionable. Limitation of consequential damages for injury to the person in the case of consumer goods is prima facie unconscionable but limitation of damages where the loss is commercial is not.
There are two general categories of remedies?legal and equitable. In the category of legal remedies are damagesMoney paid by one party to another to satisfy a liability..
The existence of a valid contract. Proof you performed your obligations under the terms of the contract or, alternatively, proof you were justified in not doing so. Proof the defendant failed to perform their obligations under the terms of the contract. Proof you suffered damages due to the defendant's breach.
Pennsylvania applies a two year statute of limitation for personal injury and property damage and a four year statute of limitations for breach of contract actions.