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Sagot :
The answer is false. Liquidated damages exist when the sum agreed upon by all parties is a genuine estimate project of the harm caused by a future violation of contract.
As a result, all contract parties agree that the amount is fair compensation for the project. A contractor who fails to complete a construction project on time and is charged daily until the job is completed is an example of liquidated damages. discusses unliquidated damages that occur in the ordinary run of business, i.e. actual damages sustained as a result of violation of contract describes liquidated damages, which both parties anticipated before entering into the contract and would be paid in the event of a breach.
To learn more about liquidated, click here.
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