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Accordingly, a consequential damages waiver will exclude any damages, other than direct damages, even if they are reasonably foreseeable because such damages are one or two links down the causal chain.
The leading Court of Appeals case, before Biotronik, addressing lost profits as direct damages under this framework was American List Corp. v. U.S. News & World Report, decided 25 years ago. 4. But the Biotronik decision now rejects a bright-line rule that would allow direct damages only where the lost profits were to be realized out of the transactions between the parties to the contract.