Liquidated Damages

Question 1

Is when

Answer 1

The amount of damages to be paid is a term of the contract.

Question 2

The party must show that the clause

Answer 2

To protect the parties involved and neither extortionate nor unreasonable

Question 3

Parking Eye V Beavis

Answer 3

The fine was enforceable as it was not seen by the court as a penality

Question 4

Can be granted

Answer 4

When the term is a proper assessment of loss
The amount is fair

Question 5

Can’t be granted

Answer 5

If it is extortionate inaccurate or seen as a penality