Editing Contracts/Liquidated damages
From wikilawschool.net. Wiki Law School does not provide legal advice. For educational purposes only.
The edit can be undone. Please check the comparison below to verify that this is what you want to do, and then publish the changes below to finish undoing the edit.
Latest revision | Your text | ||
Line 1: | Line 1: | ||
{{:Contracts/TOC | {{:Contracts/TOC}} | ||
'''Liquidated damages''' (also referred to as liquidated and ascertained damages) are damages whose amount the parties designate during the formation of a [[contracts|contract]]<ref name= Liquidated>{{Cite web | url = http://legal-dictionary.thefreedictionary.com/Liquidated+damages | title = Liquidated Damages | format = w | accessdate = 2012-12-18 }}</ref> for the injured party to collect as compensation upon a specific breach (e.g., late performance).<ref name= "Liquidated" /> | '''Liquidated damages''' (also referred to as liquidated and ascertained damages) are damages whose amount the parties designate during the formation of a [[contracts|contract]]<ref name= Liquidated>{{Cite web | url = http://legal-dictionary.thefreedictionary.com/Liquidated+damages | title = Liquidated Damages | format = w | accessdate = 2012-12-18 }}</ref> for the injured party to collect as compensation upon a specific breach (e.g., late performance).<ref name= "Liquidated" /> | ||