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.
Wisconsin Limitation of Remedies and Damages Provisions are legal provisions established within the state of Wisconsin to limit the remedies and damages that can be sought in certain legal disputes. These provisions aim to regulate the compensation that can be awarded to a party in order to maintain fairness and ensure that the remedies and damages sought are reasonable and justifiable. One type of Wisconsin Limitation of Remedies and Damages Provision is found in product liability cases. Under Wisconsin law, there is a cap on noneconomic damages that can be awarded in such cases. Noneconomic damages refer to compensation for intangible losses such as pain and suffering, emotional distress, or loss of enjoyment of life. In Wisconsin, the current cap for noneconomic damages in product liability cases is set at $750,000. Another type of Wisconsin Limitation of Remedies and Damages Provision applies to medical malpractice cases. In these cases, Wisconsin law limits the amount of noneconomic damages that can be awarded against healthcare providers and healthcare facilities. The current cap for noneconomic damages in medical malpractice cases in Wisconsin is $750,000 for each defendant involved, with a total cap of $1.5 million if there are multiple defendants. Additionally, Wisconsin has a provision known as the "economic loss doctrine" that limits the remedies available in certain types of contract law disputes. This doctrine restricts recovery for purely economic losses, such as lost profits or lost business opportunities, unless there is an accompanying physical injury or damage to property. The economic loss doctrine aims to prevent parties from seeking excessive compensation for economic losses in contract disputes where there is no distinct harm to persons or property. While these are a few examples of Wisconsin Limitation of Remedies and Damages Provisions, it is important to note that there may be other specific provisions depending on the nature of the legal dispute. It is advisable to consult an attorney or legal professional for more detailed and up-to-date information on specific provisions applicable to a particular case in Wisconsin.
