Liquidated Damages for Violation of a Non-Complete Agreement
My question involves labor and employment law for the state of: New Jersey
Company charges $50 per hour for a service
Employee is paid $25 per hour for completing the service
If there is a non-compete agreement in the contract between company and employee, and the employee competes and breaches the contract, the company then sues for money lost. Can the liquidated damages clause state the employee must pay $50 per hour in the event of a breach (for the hours breached) or is it $50 - $25 = $25 per hour? Basically, does liquidated damages factor in employee's pay?
Re: Liquidated Damages for Violation of a Non-Complete Agreement
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hemit71
My question involves labor and employment law for the state of: New Jersey
Company charges $50 per hour for a service
Employee is paid $25 per hour for completing the service
If there is a non-compete agreement in the contract between company and employee, and the employee competes and breaches the contract, the company then sues for money lost. Can the liquidated damages clause state the employee must pay $50 per hour in the event of a breach (for the hours breached) or is it $50 - $25 = $25 per hour? Basically, does liquidated damages factor in employee's pay?
Are you the employer or the employee?
Re: Liquidated Damages for Violation of a Non-Complete Agreement
shouldn't matter... it is just a simple legal calculation is it not?
im just trying to figure out how liquidated damages works.
Re: Liquidated Damages for Violation of a Non-Complete Agreement
If it didn't matter, it wouldn't have been asked...
Re: Liquidated Damages for Violation of a Non-Complete Agreement
Quote:
Quoting
hemit71
shouldn't matter... it is just a simple legal calculation is it not?
im just trying to figure out how liquidated damages works.
Why?
Re: Liquidated Damages for Violation of a Non-Complete Agreement
the law should be cut and dry on what liquidated damages is at least that is the impression i got from reading about it.
im basically neither, im just trying to learn about this... so i guess what is the answer for employer and employee?
Re: Liquidated Damages for Violation of a Non-Complete Agreement
The exact terms of the agreement will have an affect on what damages can be claimed, so without having read the agreement, an answer is not possible for either the employer or the employee.
Re: Liquidated Damages for Violation of a Non-Complete Agreement
Quote:
Quoting
hemit71
the law should be cut and dry on what liquidated damages is at least that is the impression i got from reading about it.
im basically neither, im just trying to learn about this... so i guess what is the answer for employer and employee?
Why are you "just trying to learn about this"? Seems like an awfully esoteric sort of hobby to have...are you perchance a law student?