This, the only book in print to focus on liquidated damages and penalty clauses, analyses the common law jurisdiction to control stipulated damages clauses, and the distinction between enforceable liquidated damages clauses and unenforceable penalty clauses. The first part examines the historical origin of the control of these clauses, the second describes the current control of such clauses and their legal effect, the third critically examines the various rationales that have been proposed to justify their regulation and the final part describes analogous provisions and how to avoid drafting contractual clauses that are rendered unenforceable by the penalty rule. The book examines approaches in several common law jurisdictions in addition to England and Wales, including the United States, Australia, New Zealand, and Canada, and brings together principles developed in distinct commercial law contexts (such as shipping contracts) to enable comparison between particular contractual settings.

This book focuses on liquidated damages and penalty clauses, and analyses the common law jurisdiction to control stipulated damages clauses, as well as the distinction between enforceable liquidated damages clauses and unenforceable penalty clauses. The first part of the book examines the historical origin of the control of these clauses; the second part describes the current control of such clauses and their legal effect, while the third part of the book critically examines the various rationales that have been proposed to justify their regulation. The final part of the book describes analogous provisions and how to avoid drafting contractual clauses that are rendered unenforceable by the penalty rule. The book examines approaches in several common law jurisdictions in addition to England and Wales, including the United States, Australia, New Zealand, and Canada, and brings together principles developed in distinct commercial law contexts (such as shipping contracts) to enable comparison between particular contractual settings.

Liquidated damages and extensions of time are complex subjects,frequently forming the basis of contract claims made under thestandard building and civil engineering contracts. Previouseditions of Liquidated Damages and Extensions of Time are highlyregarded as a guide for both construction industry professionalsand lawyers to this complex area. The law on time and damages continues to develop with an increasingflow of judgments from the courts. Alongside this, the standardforms of contract have also developed over time to reflectprevailing approaches to contractual relationships. Against thisbackground a third edition will be welcomed by constructionprofessionals and lawyers alike. Retaining the overall approach ofthe previous editions, the author clarifies, in a highly readablebut legally rigorous way, the many misunderstandings on time anddamages which abound in the construction industry. The thirdedition takes account of a large volume of new case law since theprevious edition was published over ten years ago, includes a newchapter on delay analysis and features significantly expandedchapters on penalty clauses, the effects of conditions precedentand time-bars, and the complexities of causation.