In my latest Daily Journal of Commerce Construction column, I discuss one of the hottest issues in private contract negotiations currently is the question of limitation of liability (LOL) clauses. Owners understandably want recourse for their damages in the event of substandard performance by their contractors and design professionals. Just as understandably, contractors and design professionals want protections on projects where risks may be disproportionate to the compensation offered for assuming such risks. Balancing the contractual demands between these two competing goals is often a contentious process without any “right” answer.
Read the full article at the Daily Journal of Commerce website. Subscribers only.
“Limitation of Liability Clauses: Nothing to ‘LOL’ About” was originally published Dec. 18, 2013 by the Daily Journal of Commerce.