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Contracts Keyed to Kuney
Austin Instrument, Inc. v. Loral Corp.
Citation:29 N.Y.2d 124, 324 N.Y.S.2d 22, 272 N.E.2d 533 (1971).
ProfessorMelissa A. Hale
CaseCast™ – "What you need to know"
In July 1965, Loral was awarded a $6,000,000 contract from the Navy to produce radar sets. The contract contained a schedule for deliveries, a liquidated damages clause for any late deliveries, as well as a cancellation clause in the event of default. Loral solicited bids for parts and subcontracted with Austin to supply 23 of the 40 precision gear components it needed to produce the radars. In May 1966, Loral was awarded a second Navy contract and again solicited bids for the necessary parts. Austin bid on all 40 gear components but was advised by Loral that Austin would only be awarded the subcontract for the items on which it was the lowest bidder. Austin refused to accept an order for less than all 40 parts and advised Loral it would cease deliveries on its current subcontract unless Loral consented to a substantial increase in prices and placed an order for all 40 parts needed on the second contract. Loral contacted all 10 of its approved manufacturers, but none could produce the parts needed in time to meet its commitments under the Navy’s contract. Loral then acceded to Austin’s demands.
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