Home of Clear-Point Law, Your Toolkit Legal World
Home    Law Dictionary    Self-Help Legal Guides    Find a Lawyer    List your Firm    Site Map  
Clear-Point Law, smart decisions begin here.

liquidated damages


liquidated damages, defined:

an agreement provision that places a fixed dollar amount for damages in the event of a breach of contract. In other words, by using a liquidated damages clause parties agree to a fixed award on damages no matter how trivial the breach of contract may be. Compare liquidated damages to limitation of damages, which sets a ceiling on potential damages for breach of contract instead of a fixed dollar amount.
CURRENT LOCATION: Home > Law Dictionary > liquidated damages
SHARE THIS WITH A FRIEND
LEAVE US YOUR FEEDBACK
BROWSE ALPHABETICAL INDEX
Search Dictionary
 
Click to find out why our users turn to Clear-Point Law before making an important legal decision
Are you new to Clear-Point Law and need help getting started? Click to link to our Quick-Start page.
Are you a provider of legal services? Click to see how we can effectively connect you with our users and consumers of legal services.
How tough is this term?
The term, liquidated damages, scores 50% on the Jargon Index (click for explanation)
By using ClearPointLaw.com, you acknowledge that we do not provide legal advice, that our content comes with no guarantee of accuracy, and that you hold ClearPointLaw.com and its affiliates harmless for any and all errors and/or omissions.  By using ClearPointLaw.com you also agree to abide by all of its terms of use.  Do not use this site if you do not fully understand and accept these terms. (Click here for Terms of Use.)
Terms of Use -  About Us -  Contacts -  User Feedback -  Publish your Content on our Site -  Provide Legal Services to Our Users
 
© 2006 Legal Franca Publishing - All Rights Reserved.