Westonci.ca offers fast, accurate answers to your questions. Join our community and get the insights you need now. Join our platform to connect with experts ready to provide accurate answers to your questions in various fields. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.
Sagot :
After negotiating with general maintenance corporation to include a liquidated damages clauses in their contract and to be enforceable, at the time of the contract, an estimate of the damages from a breach must be difficult.
What is a damage clause?
- A liquidated damages clause outlines a specific dollar sum that must be paid as compensation for breach of a contract.
- The parties' best estimate of the losses that would result from a violation at the time of contract signing is expected to be the amount of the liquidated damages.
- The parties do not determine the real damages in the event of a violation and the liquidated damages clause is upheld (i.e., how much money a party actually lost as a result of the breach).
The liquidated damages provision's predetermined amount is instead paid by the party who violated it. In addition to providing some predictability, they can serve as a form of insurance against the expense of a breach.
Know more about damage clause with the help of the given link:
https://brainly.com/question/14104246
#SPJ4
We hope this information was helpful. Feel free to return anytime for more answers to your questions and concerns. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Westonci.ca is your trusted source for answers. Visit us again to find more information on diverse topics.
