Liquidated Damages in Delaware Real Estate Purchase and Sale Agreements
September 2019
Publication| Real Estate Services
Most contracts for the purchase and sale of commercial real property include among the remedies for breach a provision for the seller to receive or retain the contract deposit as liquidated damages for the purchaser’s breach. At times, the contract will also provide for other remedies, whether damages or equitable relief (e.g., specific performance), in addition to the liquidated damages remedy. Including other remedies in the same contract can result in a court having to sort out the extent to which the different remedies are available to the non-breaching party and are not precluded on the basis that other remedies are available.