Risk Management

Time is of the Essence

On its face, this language sounds simple enough; someone wants their project done in a timely manner, right? Well, that may be the case, but that isn’t all that is at stake when you see a contract with Time is of the Essence in the language in the contract. Read More

LAW FIRMS SEE U.S. LEGAL MALPRACTICE CLAIMS COSTS SOAR AS THEY RUSH TO COPE WITH RAPID CHANGE

News Release: WASHINGTON, DC, May 23, 2022 – As law firms throughout the U.S. try to navigate an intensely competitive and rapidly changing operating environment, the costs of their legal malpractice claims are reaching troubling new heights, according to a new study by insurance broker Ames & Gough … Read More

Why All The Jury Waivers?

In the last few weeks, every contract I’ve reviewed has included the waiver of a jury trial.  I used to see them now and then, but the prevalence of them recently seems a new development to me.  While I don’t believe the provision creates a coverage issue, it has me scratching my head… Read More

What is the Problem with Agreeing to Liquidated Damages?

It is commonplace for a liquidated damages clause to be contained in an Owner/Contractor agreement.  This makes sense because the completion date is generally significant to an owner, and the contractor has submitted a price for their work and has agreed in their contract to a completion date.   By the time the contractor is awarded the contract, they usually have the contract documents, and they have used them to price the job and complete a construction schedule.  Once a notice to proceed is issued to the contractor, the contractor controls the schedule… Read More