“Balancing Optimism With Pragmatism: Allocating Risk in Construction Contracts”
ATLANTA (April 13,2018) --- In an article published on April 13, 2018, in Construction Executive, Weinberg Wheeler Hudgins Gunn & Dial partners Ross Ginsberg and Matthew Marrone provide insight into ways that construction companies can allocate risk at the front end of a business relationship in order to minimize risk later. Ginsberg and Marrone discuss how liability plays into a contract writing, “A limitation of liability provision caps the maximum amount of damages for which a party can be liable for any type of dispute, under any theory of recovery (tort, contract, statutory). Unlike a waiver of consequential damages, a limitation of liability provision is not limited as to the ‘type’ of damages to be capped.” They also explain that the most common method of allocating risk is to include an indemnification or “hold harmless” provision. “The purpose of an indemnification provision is to shift the risk of loss from one party to another,” they write. “These provisions typically include language that requires one party (the ‘indemnitor’) to pay for the damages incurred by another party (the ‘indemnitee’) arising from a negligent act or omission (the ‘duty to indemnify’).”
For the full article, you may click here.
About Weinberg Wheeler Hudgins Gunn & Dial
WWHGD is a national trial firm and winner of ALM’s “Litigation Department of the Year” award in 2017, 2016 and 2014 and “Product Liability Department of the Year” award in 2018 for its outstanding representation of clients and the results achieved on their behalf. The firm has tried over 400 cases throughout the U.S. and handled cases in all 50 states and 22 countries. Clients range from Fortune 500 to mid-size and local companies. WWHGD and its lawyers are consistently ranked in Chambers USA, Best Lawyers, Super Lawyers and other prestigious ranking directories.