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Liquidated damages are presented in certain legal contracts as an estimate of otherwise intangible or hard-to-define losses to one of the parties. It is a provision that allows for the payment of a specified sum should one of the parties be in bdocHub of contract.
A contractual provision requiring a party in bdocHub to pay a pre-determined amount to the other party as compensation for the bdocHubing partys failure to perform a specific task or comply with a particular duty or obligation.
Consider a typical clause in which the parties stipulate to damages in the event of delayed delivery: If Seller bdocHubes its obligation to deliver goods in accordance with the schedule provided for in this contract, Buyer shall have the option to recover $x per day for each day of delay as liquidated damages.
A contractual provision requiring a party in bdocHub to pay a pre-determined amount to the other party as compensation for the bdocHubing partys failure to perform a specific task or comply with a particular duty or obligation.
The critical distinction between liquidated damages and penalty clauses is that liquidated damages are actual damages, whereas penalty clauses are punitive. In other words, liquidated damages aim to compensate the injured party for losses suffered.

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Liquidated damages are presented in certain legal contracts as an estimate of otherwise intangible or hard-to-define losses to one of the parties. It is a provision that allows for the payment of a specified sum should one of the parties be in bdocHub of contract.
A liquidated damages clause specifies a predetermined amount of money that must be paid as damages for failure to perform under a contract. The amount of the liquidated damages is supposed to be the parties best estimate at the time they sign the contract of the damages that would be caused by a bdocHub.
Liquidated damages are presented in certain legal contracts as an estimate of otherwise intangible or hard-to-define losses to one of the parties. It is a provision that allows for the payment of a specified sum should one of the parties be in bdocHub of contract.
What are Liquidated Damages? In general, liquidated damages provisions specify a predetermined amount of money that must be paid as damages if one party fails to meet certain contractual requirements. 1. 28A N.Y.
For example, if the plaintiff contracted to buy one widget at $10 US Dollars (USD) and then, as a result of a contract bdocHub, he had to pay $12 USD to buy that widget from someone else, then he could sue the person who bdocHubed the contract for $2 USD his actual loss as a result of the bdocHub.

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