This form provides boilerplate contract clauses that outline the remedies available to the parties both under and outside the terms of the contract agreement.
Puerto Rico Limitation of Remedies, Election of Remedies, and the Cumulative Remedies Provision
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Remedies Not Exclusive: The remedies for breach set forth in this Contract are cumulative as to one another and as to any other provided by law, rather than exclusive; and the expression of certain remedies in this Contract does not preclude resort by either party to any other remedies provided by law.
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. What is a Limitation of Remedy Clause? - Virtus Law virtuslaw.com ? 2017/09/08 ? limitation-re... virtuslaw.com ? 2017/09/08 ? limitation-re...
By Practical Law Corporate. A boilerplate clause setting out the parties' intention that their rights, powers and remedies under an agreement coexist with their other legal rights, powers and remedies.
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 ...
A typical cumulative rights clause might be as simple as this: ?Cumulative Rights: Any specific right or remedy provided in this contract will not be exclusive but will be cumulative of all other rights and remedies.? Do Your Business Contracts Need a "Cumulative Remedies" Provision? sdcorporatelaw.com ? business-newsletter ? cumul... sdcorporatelaw.com ? business-newsletter ? cumul...
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. General Contract Clauses: Cumulative Remedies (with Exclusive ... thomsonreuters.com ? ... thomsonreuters.com ? ...
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. Examples of cumulative rights clauses in contracts - Afterpattern afterpattern.com ? clauses ? cumulative-rights afterpattern.com ? clauses ? cumulative-rights
