New Jersey Statutes 18A:18A-41. Liquidated damages; void provisions as to contractor’s remedies
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Terms Used In New Jersey Statutes 18A:18A-41
- Contract: means any agreement, including but not limited to a purchase order or a formal agreement, which is a legally binding relationship enforceable by law, between a vendor who agrees to provide or perform goods or services and a board of education which agrees to compensate a vendor, as defined by and subject to the terms and conditions of the agreement. See New Jersey Statutes 18A:18A-2
- Contract: A legal written agreement that becomes binding when signed.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
18A:18A-41. Liquidated damages. Any contract made pursuant to chapter 18A of Title 18A of the New Jersey Statutes may include liquidated damages for the violation of any of the terms and conditions thereof or the failure to perform said contract in accordance with its terms and conditions, or the terms and conditions of chapter 18A of Title 18A of the New Jersey Statutes. Notwithstanding any other provision of law to the contrary, it shall be void, unenforceable and against public policy for a provision in a contract entered into under Chapter 18A of Title 18A of the New Jersey Statutes to limit a contractor’s remedy for the contracting unit’s negligence, bad faith, active interference, tortious conduct, or other reasons uncontemplated by the parties that delay the contractor’s performance, to giving the contractor an extension of time for performance under the contract. For the purposes of this section, “contractor” means a person, his assignees or legal representatives with whom a contract with a contracting unit is made.
L.1977, c.114; amended 1999, c.440, s.77; 2001, c.206, s.2.