Ask Question
13 April, 21:59

A liquidated damage clause that represents a reasonable approximation of the damages where the actual amount would be very difficult to determine will usually be upheld.

+5
Answers (1)
  1. 14 April, 00:23
    0
    Correct.

    Explanation:

    A liquidated damage clause is a clause within a contract that refers to a case of default in the execution of contracts where both parties to the contract agree before hand (prior to the execution stage of the contract) what amount will be charged to a defaulting party in the event of not carrying out their responsibilities as agreed in the contract. Most times this is expressed as a percentage of the contract sum.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A liquidated damage clause that represents a reasonable approximation of the damages where the actual amount would be very difficult to ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers