LABORDE, Judge.
This appeal arises from a breach of contract case in which appellant Associated Press, was denied recovery of liquidated damages from Toledo Investments Inc. For the reasons stated below, we affirm. We hold that while liquidated damages may be recoverable for breach of an obligation to pay money, that recovery is limited to interest. We deny enforcement of the liquidated damage clause in this case as it exceeds the allowable rate of interest.
...Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.