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lake river v carborundum

Lake River Corp. v Carborundum Co. - Course Hero

Lake River Corp. v Carborundum Co. Contracts Facts: Carborundum manufactures Ferro Carbo an abrasive powder used in making steel. Carb entered into a contract with Lake River by which Lake River agreed to provide distribution services in its warehouses in Illinois. Lake River would receive Ferro Carbo in bulk from Carb’s bag it and ship it to Carbo’s customers.

LAKE RIVER CORP. v. CARBORUNDUM CO | 7th Cir

Lake River had bagged the 12,000 tons and had billed Carborundum for this bagging, and Carborundum had paid, but by virtue of the formula in the minimum-guarantee clause Carborundum still owed Lake River $241,000 — the contract price of $533,000 if the full amount of Ferro Carbo had been shipped, minus what Carborundum had paid for the

Lake River Corp. v. Carborundum Co., 769 F.2d 1284 …

Lake River had bagged the 12,000 tons and had billed Carborundum for this bagging, and Carborundum had paid, but by virtue of the formula in the minimum-guarantee clause Carborundum still owed Lake River $241,000--the contract price of $533,000 if the full amount of Ferro Carbo had been shipped, minus what Carborundum had paid for the bagging

Carborundum Universal - Wikipedia

2019-4-22 · Carborundum Universal Ltd (CUMI), a part of Murugappa Group, is one of the largest and oldest conglomerates in India. CUMI is the leading manufacturer and developer of abrasives, ceramics, refractories, aluminium oxide grains, machine tools, polymers, adhesives and electro minerals in India. CUMI is the only abrasive manufacturer with the diversifiion.

Lake River Corporation v. Carborundum Company - …

2013-7-8 · Lake River Corporation v. Carborundum Company 1985. Court: United States Court of Appeals, 7th Circuit: Facts: Plaintiff invested in a new bagging plant in order to service deliveries for defendant, and there was a clause for minimum order amounts. Defendant didn''t perform, and wouldn''t pay the penalty. Plaintiff asserted that this justified a

Lake River Corp. v. Carborundum Co. case - Legal …

2019-4-27 · Lake River Corp. v. Carborundum Co. case brief summary 769 F.2d 1284 (1985) CASE SYNOPSIS. Defendant appealed and plaintiff cross-appealed from decision of the United States District Court for the Northern District of Illinois, Eastern Division, which gave judgment for both parties in case brought by plaintiff for liquidated damages, contending

Video of Lake River Corp. v. Carborundum Co. - …

Lake River Corp. v. Carborundum Co. United States Court of Appeals, Seventh Circuit, 1985 769 F.2d 1284. Audio opinion coming soon. Tweet Brief Fact Summary. d Rule of Law and Holding. Sign In to view the Rule of Law and Holding. Topics.

A Comparative Analysis of Lake River : The True …

2009-3-24 · The opinion written in 1985 by Judge Richard Posner in Lake River Corp. v. Carborundum Co. is both well-known and controversial. Lake River concerns liquidated damages and penalties. The purpose of this article is to examine the case from the point of view of the Civil Law; that is, of the

Contracts CTM 2009 (Vol. II)

2018-8-8 · ii About the Author Before he received his law degree in 1990, J. H. (Rip) Verkerke earned a master''s of philosophy in economics. Verkerke joined the Law School

Efficient breach - Wikipedia

2019-4-23 · Efficient breach theory is commonly associated with Richard Posner and the Law and Economics school of thought. Posner explains his views in his majority opinion in Lake River Corp. v. Carborundum Co., 769 F.2d 1284 (7th Cir. 1985).

ENERGY PLUS CONSULTING LLC v. ILLINOIS FUEL …

In Lake River, the court found that a clause that would have awarded the plaintiff more than its lost profits, no matter the timing of the breach, was a penalty clause. Id. at 1291. The court reasoned that enforcing the clause would have resulted in an award unrelated to …

Lake River Corp. v. Carborundum Co. - Case Briefs

2010-3-24 · Lake River Corp. v. Carborundum Co. United States Court of Appeals, 1985. Facts: Carborundum manufactures “Ferro Carbo”, an abrasive powder used in making steel. To serve its Midwestern customers better, Carborundum made a contract with Lake River by which the latter agreed to provide distribution services in its warehouse in Illinois. Lake

Lake River Corp v Carborundum Co – Law School Case …

Lake River Corp. v. Carborundum Co. 769 F.2d 1284 (7th Cir. 1985) RULE: To be valid under Illinois law a liquidation of damages must be a reasonable estimate at the time of contracting of the likely damages from breach, and the need for estimation at that time must be shown by reference to the likely difficulty of measuring the actual damages from a breach of contract after the breach occurs.

Lake River Corp. v. Carborundum Co. Case Brief | 4 …

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Efficient breach - Wikipedia

2019-4-23 · Efficient breach theory is commonly associated with Richard Posner and the Law and Economics school of thought. Posner explains his views in his majority opinion in Lake River Corp. v. Carborundum Co., 769 F.2d 1284 (7th Cir. 1985).

Lake River Corp. v. Carborundum | U.S. Contract Law …

Lake River Corp. v. Carborundum. 769 F.2d 1284 (7th Cir. 1985) Posner, Circuit Judge. This diversity suit between Lake River Corporation and Carborundum Company requires us to consider questions of Illinois commercial law, and in particular to explore the fuzzy line between penalty clauses and liquidated-damages clauses.

Contracts Cases Flashcards | Quizlet

Contracts Cases. STUDY. PLAY. Parker v. 20th Century Fox. 20th Century breached contract with Parker. Parker refused another movie offer. Court held that Parker did not fail to mitigate damages because the movie offer was different and inferior. Lake River v. Carborundum.

Lake River Corp v Carborundum Co – Law School Case …

Lake River Corp. v. Carborundum Co. 769 F.2d 1284 (7th Cir. 1985) RULE: To be valid under Illinois law a liquidation of damages must be a reasonable estimate at the time of contracting of the likely damages from breach, and the need for estimation at that time must be shown by reference to the likely difficulty of measuring the actual damages from a breach of contract after the breach occurs.

Contracts - Concepts and Cases Flashcards | Quizlet

damages are not recoverable for loss if the breaching party did not have reason to foresee them as a result of the breach when K was made. may be foreseeable if it follows from the breach in the ordinary course of events, or if it results from special circumstances the other party had reason to know. a court can also limit damages for foreseeable loss as required to prevent disproportionate

CISG Advisory Council Opinion No. 10

For the USA Lake River Corp v Carborundum Co, US Ct App (7th Cir), 9 August 1985, 769 F2d 1284 at 1291 per Judge Posner; Oscar de la Renta, Ltd v Mulberry Thai Silks, Inc, US Ct App (SD NY), 17 April 2009, 2009 WL 1054830.

Lake River Corp. v. Carborundum Co. case - Legal …

2019-4-26 · Facts: P contracted to be processing and distribution provider – bagged and distributed “FerroCarbo.”D promises to let P process a certain amount over 3 years and will pay at least $533,000. If they fail, they’ll liquidate damages (pay the full $533,000).

Lake River Corp. v. Carborundum Co. - Wiki Law School

2018-5-3 · Lake River Corp. v. Carborundum Co., 769 F.2d 1284 (7th Cir. 1985). Facts: Plaintiff agreed to build a new bagging system for Defendant under a contract with a liquidated damages clause.Defendant breached, and Plaintiff wanted damages according to the liquidated damages clause. Holding: Held for Defendant.. Reasons: Although Plaintiff is entitled to damages, the liquidated …

Cleaning Up Lake River - ResearchGate

A casebook favorite for exploring the liquidated damage-penalty clause distinction is Lake River v. Carborundum in which Judge Posner found a minimum quantity clause to be an unenforceable penalty

Commentaire de l’arrêt Lake River Corporation v

2019-4-27 · L’arrêt Lake River Corporation v.Carborundum Company illustre la théorie de l’efficient breach, ou inexécution efficace.Cette théorie admet que dans certaines circonstances, il peut être judicieux et non blâmable de permettre à une partie au contrat de rompre le lien contractuel en versant des dommages-intérêts à l’autre partie.

Lake River v. Carborundum The jurisdiction of the …

Lake River v. Carborundum The jurisdiction of the court fell to the United States Court of Appeals. Carborundum manufactured Ferro Carbo, which is an abrasive powder used in making steel. The defendant entered into a contract with the plaintiff where the plaintiff agreed to provide distribution services in its warehouse. The plaintiff was going to receive the powder in bulk and bag it for

LAKE RIVER CORPORATION, Plaintiff-Appellee-Cross …

2018-12-19 · LAKE RIVER CORPORATION, Plaintiff-Appellee-Cross-Appellant, v. CARBORUNDUM COMPANY, Defendant-Appellant-Cross-Appellee Nos. 84-1623, 84-1688 UNITED STATES COURT OF APPEALS FOR THE SEVENTH CIRCUIT

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