Court of Appeals of Kansas
946 P.2d 1010 (1997)
Miguel A. Diaz Rodriguez (Diaz) (plaintiff) contracted with Learjet, Inc. (Learjet) (defendant) to purchase a jet. Learjet had the right to cancel the contract for nonpayment and keep amounts paid as liquidated damages. Diaz paid a $250,000 deposit but no other payments. Learjet terminated the contract and kept the deposit. Learjet sold the jet to another buyer and profited more than expected. Diaz sued claiming Learjet’s actual damages were much lower than $250,000 and the liquidated damages clause was an unenforceable penalty. The district court granted summary judgment to Learjet. Diaz appealed, and this court reversed and remanded. After a bench trial, the district court held that Learjet was entitled to lost profits for the breach as a lost volume seller and held the liquidated damages provision valid. Diaz appealed to the Court of Appeals of Kansas.
Rule of Law
Holding and Reasoning (Marquardt, J.)
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