Liquidated Damages - Law Dictionary Search Results
Liquidated damages
Matched in: Term Liquidated damages
liquidated damages
Matched in: Term liquidated damages
Stipulated damage
Stipulated damage, liquidated damage, which see. … Stipulated damage, liquidated damage, which see.
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damage
cover, and any other reasonable expenses resulting from the breach that do not fall into any other category liquidated damages : damages whose amount is agreed upon by the parties to a contract as adequately compensating for loss … a contract as adequately compensating for loss in the event of a breach called also stipulated damages NOTE: Liquidated damages in an amount exceeding that needed to reasonably compensate the injured party constitute a penalty and are therefore
Penalty
2. A sum agreed to be paid on breach of an agreement or any stipulation of it. See LIQUIDATED DAMAGES, and NOMINE PEN'. The fact that the parties state expressly in their contract that the sum named is … and NOMINE PEN'. The fact that the parties state expressly in their contract that the sum named is 'liquidated damages' will not prevent the Court from deciding that it is a penalty. 'The cases upon the subject of
liquidated
Matched in: Term liquidated
Damages
Matched in: Term Damages
penalty clause
in the event of a breach) and that is usually unenforceable NOTE: A penalty clause differs from a liquidated damages clause by not being tied to an estimate of possible actual damages. 2 : a clause in a
lease
contract by which the goods were acquired or must receive a statement of terms (as warranties, disclaimers, and liquidated damages) relating to the contract or notification of where such information can be obtained. ground lease : a lease
Noting
is for business purposes generally taken as showing due presentment. The expenses of noting can be recovered as liquidated damages. (Bills of Exchange Act, 1882, s. 57. See Chalmers, Bills of Exchange) Although, in the case of inland
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