What are liquidated damages and why type of harm is remedied by liquidated damages? How are...

What are liquidated damages and why type of harm is remedied by liquidated damages?

How are liquidated damages different from consequential damages?

What is the legal "test" for determining whether a liquidated damages clause is enforceable?

Solutions

Expert Solution

ANS : 2 if the They are by recovering the , actual consequential damages, a liquidated damages clause in the contract. Thus, liquidated damages are a type of consequential damage. Liquidated clauses are used because it may be very hard to quantify actual the damages.

ANS : 3 if most important It has traditional been thought that the test for whether a particular “liquidated damages” is an unenforceable penalty clause rather than an enforceable genuine liquidated damages clause, isa simply whether the stipulated sum of liquidated damages was a genuine

Rahul Sunny answered 1 year ago

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