Printer Friendly
The Free Dictionary
897,472,438 visitors served.
?
Dictionary/
thesaurus
Medical
dictionary
Legal
dictionary
Financial
dictionary
Acronyms
 
Idioms
Encyclopedia
Wikipedia
encyclopedia
?

Liquidated Damages
(redirected from Liquidated damages clause)

    Also found in: Legal, Wikipedia 0.01 sec.
Liquidated Damages
Present in certain legal contracts, this provision allows for the payment of a specified sum should one of the parties be in breach of contract.

Notes:
This is meant as a fair representation of losses in situations where actual damages are difficult to ascertain. These liquidated damages are meant to be fair rather than punitive.

See also: Liquidation
Liquidated damages
The amount payable for delays and sub-standard performance under a construction, equipment supply, or Operations & Maintenance contract.
?Page tools
Printer friendly
Cite / link
Email
Feedback
Add definition
? Mentioned in ? References in periodicals archive
 
To address this factor, many attorneys will advise their clients to include a liquidated damages clause in their contracts.
Damage control, or how to sue your contractor by Richards, Andrew L. / Real Estate Weekly
The court said that Monsanto's liquidated damages clause, requiring farmers to pay 120 times the technology fee for each bag of seed purchased, was not a reasonable estimate of the financial harm suffered when the farmer saved seed.
Top 10 Ag Law Cases by Stokes, Susan / Top Producer
One way we have suggested to customers to get quality contractors is to include a liquidated damages clause of at least $2,500 per day in the contract, or something similar.
Hot topics: National Demolition Association leaders address issues ... by Construction & Demolition Recycling
More results
 
Financial browser? ? Full browser
 
 
Financial Dictionary
?

Disclaimer | Privacy policy | Feedback | Copyright © 2008 Farlex, Inc.
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional. Terms of Use.