Crop shot of person with pen signing contract at desk in daylight. Credit: DragonImages/Adobe Stock Remedies in Real Estate Transactions, Part 4: Damage Limitations
In this last article of her four-part series, Adrienne Koch discusses two types of provisions parties use to limit actual damages— waivers of consequential damages, and waivers of the right to seek money damages altogether.
December 19, 2023 at 10:00 AM
6 minute read
This four-part series has explored some of the ways in which parties to real estate transactions attempt to control what will happen if one party breaches its obligations. The first three articles discussed ways parties can provide for or anticipate certain "bespoke" remedies: liquidated damages, specific performance, and notice of pendency. The most common remedy, however, is actual damages: a monetary award compensating the non-breaching party for the financial consequences of the breach.
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