123freedom
Junior Member
What is the name of your state (only U.S. law)? CAWe have a release and settlement agreement to sign with our home builder. They have agreed to complete certain repairs. In the agreement they are asking we sign to a confidentiality clause that states
"If Owners breach this confidentiality provision, ***** shall be entitled, in addition to any other remedies, to collect from Owners the sum of $10,000 as liquidated damages, which the Parties agree is a reasonable sum considering all of the circumstances existing on the date of the execution of this Release, including the relationship of the sum of the range of harm to ***** that reasonably could be anticipated and the expectation that proof of actual damages incurred would be costly or inconvenient."
Is this truly a reasonable sum? We don't think so and wonder if we can change it to somewhere around $3,000 or $4,000 instead.
We do not plan on breaching the confidentiality provision but still think the amount they set is way too much. What do you think?What is the name of your state (only U.S. law)?What is the name of your state (only U.S. law)?