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Enron Mail |
Choice of law doesn't impact place of arbitration. We just need a starting
position... From: Kathleen Carnahan 02/15/2001 02:11 PM To: Kay Mann/Corp/Enron@Enron cc: Carlos Sole/NA/Enron@Enron Subject: Re: Arbitration clause for option agreements - what do you think? Well, it looks fair except the place of arbitration. Since we determine the choice of law the by the state where the property is situated, will New York work for the place of arbitration? (I'm not so sure all of the landowners even know there is a New York, New York). Kay Mann 02/15/2001 01:52 PM To: Kathleen Carnahan/NA/Enron@Enron, Carlos Sole/NA/Enron@Enron cc: Subject: Arbitration clause for option agreements - what do you think? 1. Remedies, Jurisdiction, Arbitration and Governing Law. Money damages would not be a sufficient remedy for any breach of this Agreement by Optionor, and the Optionee shall be entitled to specific performance and injunctive relief as remedies upon proof of any such breach. Such remedies shall not be deemed to be the exclusive remedies for a breach of this Agreement by Optionor or any of its Representatives but shall be in addition to all other remedies available at law or in equity to the Optionee. Excepting the right of Optionee to seek such relief, all claims and matters in question arising out of this Agreement or the relationship between the parties created by this Agreement, whether sounding in contract, tort or otherwise, shall be resolved by binding arbitration pursuant to the Federal Arbitration Act. The arbitration shall be administered by the American Arbitration Association ("AAA"). There shall be three arbitrators. Each party shall designate an arbitrator, who need not be neutral, within 30 days of receiving notification of the filing with the AAA of a demand for arbitration. The two arbitrators so designated shall elect a third arbitrator. If either party fails to designate an arbitrator within the time specified or the two parties' arbitrators fail to designate a third arbitrator within 30 days of their appointments, the third arbitrator shall be appointed by the AAA. It is expressly agreed that the arbitrators shall have no authority to award punitive or exemplary damages, the parties hereby waiving their right, if any, to recover punitive or exemplary damages, either in arbitration or in litigation. The place of the arbitration shall be New York, New York.
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