Meredith's Article on Contract Law Was Recently Cited in Two State Supreme Court Decisions
Meredith is delighted that Contract Law, Party Sophistication and the New Formalism, 75 Mo. L. Rev 493 (2010), was cited by two state supreme courts in recent decisions.
First, the Maryland Supreme Court cited the article in footnote 19 of its decision in Lloyd v. Niceta. It is a decision about a postnuptial agreement. The agreement had a provision that required a husband to pay his wife a $7 million lump sum if he cheated again. And he cheated again. Then he tried to argue that the provision was an unenforceable penalty. The Court enforced the clause.
Second, in Cummings Properties v. Hines, the Massachusetts Supreme Judicial Court held that the liquidated damages clause in a commercial lease was enforceable against the tenant. In reaching that conclusion, the Court also held that a party's level of sophistication is a question of fact, citing the article as support.
It is a thrill to see this article help courts decide cases and shape contract law.