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Content provided by Clauses & Controversies, Mitu Gulati, and Mark Weidemaier. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Clauses & Controversies, Mitu Gulati, and Mark Weidemaier or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
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Ep 149 ft. Mitu & Mark

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Manage episode 462109556 series 2911580
Content provided by Clauses & Controversies, Mitu Gulati, and Mark Weidemaier. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Clauses & Controversies, Mitu Gulati, and Mark Weidemaier or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
Is Sri Lanka’s Loss Reinstatement Provision a Penalty? Two of our favorite things to talk about are innovative contract clauses and ancient illogical contract doctrines that unexpectedly bite in the ass. A few weeks ago, we walked through the Loss Reinstatement provisions for Ghana and Zambia. We asked the question of whether those provisions might run afoul of the antiquated and bizarre (to us) anti-penalty doctrines under English and New York law. English law having recently become more permissive with regards to permitting penalty type clauses – if they have a legitimate business purpose -- we speculated about whether the Zambia/Ghana clauses might pass muster. Maybe. But Sri Lanka’s version of the clauses is under New York law. And New York law on this matter is still stuck in the dark ages, best we can tell. So, does the Loss Reinstatement provision for Sri Lanka run afoul of the penalty doctrine? Producer: Leanna Doty
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160 episodes

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Ep 149 ft. Mitu & Mark

Clauses & Controversies

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Manage episode 462109556 series 2911580
Content provided by Clauses & Controversies, Mitu Gulati, and Mark Weidemaier. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Clauses & Controversies, Mitu Gulati, and Mark Weidemaier or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
Is Sri Lanka’s Loss Reinstatement Provision a Penalty? Two of our favorite things to talk about are innovative contract clauses and ancient illogical contract doctrines that unexpectedly bite in the ass. A few weeks ago, we walked through the Loss Reinstatement provisions for Ghana and Zambia. We asked the question of whether those provisions might run afoul of the antiquated and bizarre (to us) anti-penalty doctrines under English and New York law. English law having recently become more permissive with regards to permitting penalty type clauses – if they have a legitimate business purpose -- we speculated about whether the Zambia/Ghana clauses might pass muster. Maybe. But Sri Lanka’s version of the clauses is under New York law. And New York law on this matter is still stuck in the dark ages, best we can tell. So, does the Loss Reinstatement provision for Sri Lanka run afoul of the penalty doctrine? Producer: Leanna Doty
  continue reading

160 episodes

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