What are consequential damages?
Consequential damages are unforeseeable at the time the contract was entered into and do not flow directly or immediately from the act of the party, but only from some of the consequences or results of such an act. AIA contracts and ConsensusDocs contracts each have their own take on consequential damages and how to deal with the losses attached. There are different advantages and disadvantages from the owner, contractor and designer’s individual perspectives with waiver being the product of court decisions, which awarded owners consequential damages that far exceeded contract value. This video reviews this type of damage and also discusses liquidated damages and how they work.
Agenda
Faculty
Lisa Lombardo
FBT Gibbons
- Partner in Construction Practice Group
- Has successfully litigated matters before the state and federal courts of New Jersey and New York, as well as the American Arbitration Association, with a focus on construction matters.
- Has distinctive experience in commercial and construction litigation, representing both plaintiffs and defendants.
- Served as co-lead counsel during a three-year-long arbitration representing a major university in a claim regarding substantial design and construction defects, which resulted in a multi-million-dollar award for our client and the arbitrator striking down a limitation of liability clause.
- Possesses extensive experience in drafting and negotiating contracts, frequently collaborating with owners, contractors, subcontractors, and designers. Engages in contracts for a wide range of projects, including academic centers, public schools, laboratory facilities, office buildings, energy facilities, public and private developments, as well as building additions of various sizes.
- Serves on the American Arbitration Association Panel of Construction Arbitrators, is a member of the Roster of Mediators, and is also listed on the New Jersey Superior Court Roster of Mediators, where she has mediated a broad range of civil matters.
- Can be contacted at [email protected] or 973.596.4500 ext. 4481
Meghal Shah
FBT Gibbons
- Associate in the Gibbons P.C. Commercial & Criminal Litigation Department
- Has assisted in briefing and preparing presentation, slides and materials to a Dispute Resolution Board regarding complex construction delay claims and has experience in drafting arbitration submissions regarding type 1 and type 2 differing site conditions
- She has also assisted with drafting project-specific construction agreements
- Completed a judicial clerkship at the Supreme Court of New Jersey for the Honorable Anne M. Patterson
- Can be contacted at 973-596-4717 or [email protected]
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