Every now and then a case with national implications pops up right here in my own backyard (New Jersey). No, we are not talking about a case affecting immigration policy, gun control or the midterm elections. Instead, we are talking about the less glitzy subject of arbitration agreements.
The waiver of consequential damages clause in a contract, be it for construction or professional services, is a risk-shifting provision that has value to both parties to the contract and it should be negotiated.
The statute of repose is often confused with another, more common statutory defense, the statute of limitations. Both statutes provide a defense to claims based on time. After that, they bear little resemblance to each other.
“Remember the Architect!” While it may not be as catchy as “Remember the Alamo!” at the Battle of San Jacinto, the phrase about design professionals is probably more relevant to your day-to-day business.