Food processing plant and a farmer’s cooperative for wheat
A food processing plant enters into a contract with a farmers’ cooperative for the purchase of several thousand bushels of wheat at $6.50 per bushel to be delivered on November 15. The contract provides that there will be liquidated damages of $10,000 for each bushel of wheat that the cooperative fails to deliver. Which is true?
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WRITE MY ESSAYa. liquidated damages clauses are always valid if entered into before the acutal breach.
b. because $10,000 is a relatively small amount, this liquidated damages clause is valid.
c. the liquidated damages clause would be reformed to $6.50 per undilivered bushel.
d. this liquidated damages clause is invalid because it is excessive and because actual damages would be easy to compute if the wheat is not delivered
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