1
Q
Remedies
A
a court-ordered compensation to one party’s breach of contract
2
Q
Liquidated Damages Clause
A
contractual provision required a party in breach to pay a pre-determined amount to the injured party for breach of contract
3
Q
What are the two criteria for liquidated damages?
A
- It must be a reasonable approximation for the amount caused by the damages
- It must be intended to avoid the costs that would amount in litigating the damages
