Nolan v. Kirchner

Since Crane v. Peer, 43 N.J. Eq. 553, it has been uniformly held in this state that the mere presence of a stipulation for liquidated damages for breach of a contract of this nature does not make the contract an alternative one. As expressed by Vice-Chancellor Reed in Avon-by-the-Sea Land Improvement Co. v.Thompson, 60 N.J. Eq. 207, 211, "there must be something apart from the fact that there is a provision for liquidated damages to show that its payment is to be the equivalent for performance." The general view is that the primary object of contracts of this nature is deemed to be…