Asked by Mathu Vicky on May 11, 2024
Verified
If the parties agree on a reasonable amount of damages that will be paid to the injured party,this amount is known as ________.
A) liquidated damages
B) unconscionable damages
C) punitive damages
D) unenforceable damages
Liquidated Damages
A predetermined amount of money that must be paid as compensation for failure to fulfill certain contractual obligations, particularly in cases of breach of contract.
- Assess and apply the guidelines for evaluating the enforceability of liquidated damages provisions.
Verified Answer
NS
Navjot SandhuMay 17, 2024
Final Answer :
A
Explanation :
If the parties agree on the amount of damages that will be paid to the injured party,this amount is known as liquidated damages.
Learning Objectives
- Assess and apply the guidelines for evaluating the enforceability of liquidated damages provisions.