Holland Torpedo Boat Co. v. Nixon

It is not necessary to the disposition of the motion for a new trial herein that it should be finally determined whether the per- diem sums contracted to be paid in case of failure to complete within the stipulated time are to be regarded as liquidated damages or as penalties. But it is well to call attention to the facts which have been established, and which have a bearing not only upon this question, but as well upon the other phases of the case to be hereafter referred to. On July 13, 1900, the Holland Torpedo Boat Company made a contract with Lewis Hixon for the construction of a…