liquidated damages

An amount contractually stipulated as a reasonable estimation of actual damages to be recovered by one party if the other party breaches.

• If the parties to a contract have properly agreed on liquidated damages, the sum fixed is the measure of damages for a breach, whether it exceeds or falls short of the actual damages.

— Also termed stipulated damages; estimated damages. See LIQUIDATED-DAMAGES CLAUSE. Cf. unliquidated damages; PENALTY CLAUSE. [Cases: Damages 74–84. C.J.S. Damages §§ 175–179, 184–194.]

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词条贡献者

双语律师Wayne，国际知名法学院法律专业，擅长翻译各类与遗产及遗嘱争议相关的法律文件。