Question: $ 7 , 5 0 0 per year licensing fee for an 1 8 - year period, and it stated that in the event of
$ per year licensing fee for an year period, and it stated that in the event of default PDS could"accelerate and declare all obligations of Customer as a liquidated sum." A dispute arose between the parties, and when the case was litigated the only actual contract charges owed PDS were the license fees of $ for two years. The application of the liquidated damages clause would yield an additional $ cash for PDS for the future fees for years without any reduction for expenses or the present cash value for the notyetearned fees. JRC contends that actual damages were clearly ascertainable and that the liquidated damages clause was a penalty provision that should not be enforced. Progressive argued that the court must interpret the contract as written, stating that the court has no power to rewrite the contract. Decide. Vefferson Randolf Corp.u PDS SEd Ga App.
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
