Liquidated damages

(redirected from Liquidated Damage)
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(Law) damages the amount of which is fixed or ascertained.
- Abbott.

See also: Liquidate

References in periodicals archive ?
AGREED LIQUIDATED DAMAGE: If successful tenderer fails to execute the order within the agreed delivery schedule, he shall be liable to pay as agreed liquidated damages a sum@ % of the contract value per week or part thereof of delay subject to a maximum of 5%.
The plaintiffs targeted Trinity's practice of collecting a nonrefundable $100 ``initiation fee'' from every new tenant at the time they signed their lease, and its collection of a liquidated damage deposit equal to one month's rent.
Waiver of any schedule-related liquidated damages related to the original contract and reestablishment of liquidated damage start dates according to the settlement
According to the company, the agreement resolves all past commercial issues and increases the certainty of the project schedule, which has all three liquefaction trains producing LNG in 2019; provides incentive bonus payments related to expedited project completion; as well as waiver of any schedule-related liquidated damages related to the original contract and reestablishment of liquidated damage start dates according to the settlement.
By analyzing liquidated damages clauses in this manner, courts seek to ensure that liquidated damage provisions are "reasonable.
267) And, in those cases where the defendant has intentionally injured the plaintiff and the combined compensatory damage and liquidated damage awards are above $300,000, the defendant would still have the opportunity to avoid the liquidated damages portion of this award by demonstrating good faith, as discussed further below.
Liquidated damage clauses should be negotiated between the parties.
To be enforceable, these required lease payments must be properly written as liquidated damage clauses.
Liquidated damage clauses which are reasonable in amount are enforceable as part of a contract and are not treated as penalty clauses.
As an alternative or supplement to a restrictive covenant, physician executives should consider the use of a liquidated damage provision.
Most contracts for the sale of real estate contain liquidated damage provisions which have long been upheld by New York courts.
For example, a lease preventing a tenant from opening another store within two miles of the leased premises and providing that if the tenant did so in spite of the prohibition, then 100 percent of the gross sales at the other store would be included as gross sales from the leased premises for purposes of calculating percentage rent, may be an unreasonable and therefore unenforceable liquidated damages clause.