Solicitors & Lawyers
Legal Meanings
Term: liquidated damages
1.
The pre-agreed method of calculating damages in a contract, such that a judge is not required to make a formal assessment of damages or loss. The pre-estimate of damages must be a genuine estimate of the losses that will be sustained by the breach, otherwise the clause is deemed an unenforceable penalty.
Usage: The liquidated damages clause took effect in the event of late delivery.
Related Words: general damages; special damages; penalty clause; mitigation of damage; breach of contract; quantum meruit; remoteness of damage; contributory negligence; contract; assessment of damages; financial loss.
Contract Disputes – Limitations of Liability - Software Licence Agreements and Software Development Contracts - Part 10
Copyright – Commercial Categories of Intellectual Property Rights Infringement
Contract Disputes – Reducing Damages Awards: Mitigation of Loss in Contractual and Intellectual Property Claims
T: +44 20 7353 2732
F: +44 20 7353 2733
Email Us
Contact lawyers
Sitemap
Technology | Commercial | Corporate law firm | London UK
Solicitors & Lawyers | Copyright | Gillhams 2005 - 2008
