'No Consequential Damages' Clause and Lost Profits

, New York Law Journal

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In his Contract Law column, Glen Banks, a partner at Norton Rose Fulbright (Fulbright & Jaworski), discusses an opinion in which a sharply divided Court of Appeals ruled this week that a "no consequential damages" clause in a distribution agreement would not bar a distributor from recovering breach of contract damages for the profit it allegedly would have made reselling the product which was the subject of the agreement. The court reversed a unanimous ruling below that the "no consequential damages" clause limited the distributor's recovery to nominal damages.

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