Time for the #contract term of the day, and you are getting another one because time is of the essence was a duplicate this week (oops)! Let's do "consequential damages."
The general rule in business transactions concerning breach of contract is that a party is only responsible for the damages that would normally or ordinarily flow from a breach of contract and is not responsible for damages under “special circumstances.” The damages that would normally be expected are commonly referred to as “direct damages,” i.e., those damages that anyone would reasonably expect to occur for the type of contract or agreement that was entered into. As a consultant or contractor, YOU will only earn a fixed amount of profit, and the possibility of consequential damages would not only wipe out any profit that you can ever make on that project, it puts your business/personal assets on the line and *might* not be insurable.
necessary disclaimer: I'm A lawyer, but not YOUR lawyer, this is not an attorney/client relationship nor does it form one, and you should seek counsel licensed in your jurisdiction for advice on any legal issue, including contract terms. This is just for entertainment purposes!**
#grownostr #contract #contracts #legal #agorist #agorism #intentionalcommunities #law #legal
agoristesq / Agorist, Esq.
npub1lm…jnk8r
2023-07-13 19:47:35
Author Public Key
npub1lml8grzw52gc5am4hfhafemur50qjznzkpwjp9nkj7xz2zy9c8qqmjnk8rSeen on
wss://nos.lolPublished at
2023-07-13 19:47:35Event JSON
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"content": "Time for the #contract term of the day, and you are getting another one because time is of the essence was a duplicate this week (oops)! Let's do \"consequential damages.\" \n\nThe general rule in business transactions concerning breach of contract is that a party is only responsible for the damages that would normally or ordinarily flow from a breach of contract and is not responsible for damages under “special circumstances.” The damages that would normally be expected are commonly referred to as “direct damages,” i.e., those damages that anyone would reasonably expect to occur for the type of contract or agreement that was entered into. As a consultant or contractor, YOU will only earn a fixed amount of profit, and the possibility of consequential damages would not only wipe out any profit that you can ever make on that project, it puts your business/personal assets on the line and *might* not be insurable. \n\nnecessary disclaimer: I'm A lawyer, but not YOUR lawyer, this is not an attorney/client relationship nor does it form one, and you should seek counsel licensed in your jurisdiction for advice on any legal issue, including contract terms. This is just for entertainment purposes!**\n\n#grownostr #contract #contracts #legal #agorist #agorism #intentionalcommunities #law #legal",
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