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The intermediate court was also chided for not enforcing the plain terms of the contract, but rather undertaking “to be wiser than the parties.” As noted in 2015, the Piketon dispute does raise a worthy point in asking what basis the owner had for the 0 rate.
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By Kalea Hall [email protected] While Sears and Toys “R” Us stores prepare to close, the township has new retail development in the works and announcements coming soon. Customers are able to use their Toys “R” Us gift cards through April 21. “This is not an effort solely aimed at cost savings but is part of a strategy we have been executing [because] many of our larger stores are too big for our needs.” The number of employees affected by the closure was not released.
Sears Holdings Corp., which owns Sears and Kmart stores, announced on Thursday it would close the Boardman location in mid-July. Eligible employees will receive severance and have the opportunity to apply for open positions at area Sears or Kmart stores.
The decision was written by the one of our country’s most preeminent jurists, Chief Justice John Marshall.
It is interesting to learn that the contract drafters of the early 19th century were already using liquidated damages provisions.
The liquidated damages issue was appealed to the Ohio Supreme Court.
Decision: The Supreme Court of Ohio reversed the Court of Appeals, and issued a strong decision in favor of the enforceability of liquidated damages provisions on public works projects.The contractor filed a lawsuit against the village seeking to enforce the contractor’s claims for additional time and compensation.The village countered with a demand for enforcement of the liquidated damages clause.Nonetheless, EJCDC strongly encourages owners (and their engineering consultants) to establish a daily damages rate using reasonable criteria, and to carefully document the reasoning.Such documentation in the Piketon case might have carried the day at the Court of Appeals level, despite the large total.The court held that liquidated damages of more than a third of the total contract price was an unenforceable penalty.