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词汇 liquidated-damages
释义 liquidated damages
noun[ plural ]
ukus
LAW
in a written agreement, a sum of money that one person, organization, etc. will pay to the other if the agreement is broken:
He agreed to pay liquidated damages of nearly $1.4 million.

Examples of liquidated damages


liquidated damages
It is well established that liquidateddamages for breach of contract are void if they seek to punish rather than to compensate for loss.
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Where the case is premised on liquidateddamages, such as a breach of a promissory note, then judgment will be entered in that amount.
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It also would have added minimum liquidateddamages for willful violations and punitive damages for violations committed with malice.
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Thus a seller may exclude liability for consequential loss, and may agree liquidateddamages for delay.
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Parties may contract for liquidateddamages to be paid upon a breach of the contract by one of the parties.
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Issues related to liquidateddamages, misrepresentation, vehicle condition, contract disputes and safety certificates are the most common complaints handled.
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It is a commonplace that a seller of goods may exclude liability for consequential loss, and may agree liquidateddamages for delay.
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The contract stipulated the levy of liquidateddamages for the delays and the same worked out to the equivalent of 38.5 million.
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Officially, demurrage is a form of liquidateddamages for breaching the laytime as it is stated in the governing contract (the charter party).
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Such clauses should be distinguished from liquidateddamages clauses, which do not result in binding judgments against the obligor.
From
Wikipedia

This example is from Wikipedia and may be reused under a CC BY-SA license.
These examples are from corpora and from sources on the web. Any opinions in the examples do not represent the opinion of the Cambridge Dictionary editors or of Cambridge University Press or its licensors.
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