Legal Opinion · Concurrence
Joseph F. Sanson Investment Co. v. 268 Ltd. (In Re 268 Ltd.)
United States Bankruptcy Appellate Panel for the Ninth Circuit
Decided April 5, 1988No. BAP No. NV 87-1500-MeMoAs, Bankruptcy No. S-82-01071Published
1Concurrence
MEYERS, Bankruptcy Judge,
concurring:
The provision in the deed of trust adopting Nevada Revised Statute Section 107.-030(7) constitutes a liquidated damages clause for reasonable expenses, including attorney fees, incurred during a trustee’s sale of property in the event of a default. I CONCUR with the majority because Nevada law, unlike the law in a majority of jurisdictions, requires the stipulated liquidated damages be reasonable in light of the actual damages incurred.
The validity of a contract provision prescribing liquidated damages depends upon state law. In re United Merchants & Mfrs.,…
2Cases cited9 opinions
- In the Matter of the Plywood Company of Pennsylvania, the Plywood Company of Pennsylvania, DebtorCourt of Appeals for the Third Circuit · 1970
- United Order of American Bricklayers and Stone Masons Union No. 21 v. Thorleif Larsen and Son, IncorporatedCourt of Appeals for the Seventh Circuit · 1975
- Silver Dollar Club v. Cosgriff Neon CompanyNevada Supreme Court · 1964
- Haromy v. SawyerNevada Supreme Court · 1982
- Southwest Engineering Company, a Missouri Corporation v. United StatesCourt of Appeals for the Eighth Circuit · 1965
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