White Paper

4 Pages
  • 4 Pages

Time Is of the Essence: Terms and Conditions in Purchase Agreements

 

Can the parties turn late performance into material breaches?

When a contract spells out specific dates for performance, a late performance typically is an immaterial breach that will not discharge the non-breaching party's obligations. In fact, a late performance will not entitle the non-breaching party to more than nominal damages. How can a party enforce deadlines in a contract? This white paper reviews while liquidated damages provisions might be enforceable the damages would have to meet the standards for liquidated damages. 

Agenda

Faculty

Timothy Murray

Timothy Murray

Murray, Hogue & Lannis

  • Partner in the law firm Murray, Hogue & Lannis, Pittsburgh, PA
  • Practice emphasizes contract law
  • Conducts regular seminars on the law of contracts
  • Author volume 1 of Corbin on Contracts (revised edition, 2018), Co-author of Corbin on Contracts Desk Edition and the biannual supplements to Corbin on Contracts
  • Member of the Pennsylvania Bar
  • J.D. degree, University of Pittsburgh
  • Can be contacted at [email protected]

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