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Cosa (chi) è liquidated damages - definizione
Liquidated damages
DAMAGES WHICH ARE LIQUIDATED/ASSESSED AND FIXED AT THE DATE OF THE CONTRACT
Liquidated damages clause; Unliquidated damages; Liquidated Damages; Stipulated Penalty; Stipulated penalty; Stipulated damages; Paccioco v Australia and New Zealand Banking Group Limited
Liquidated damages, also referred to as liquidated and ascertained damages (LADs),Barker, C., Construction: Law: Liquidated Ascertained Damages (LADs), published 14 August 2018, accessed 15 May 2020 are damages whose amount the parties designate during the formation of a contract for the injured party to collect as compensation upon a specific breach (e.
liquidated damages
DAMAGES WHICH ARE LIQUIDATED/ASSESSED AND FIXED AT THE DATE OF THE CONTRACT
Liquidated damages clause; Unliquidated damages; Liquidated Damages; Stipulated Penalty; Stipulated penalty; Stipulated damages; Paccioco v Australia and New Zealand Banking Group Limited
n. an amount of money agreed upon by both parties to a contract which one will pay to the other upon breaching (breaking or backing out of) the agreement or if a lawsuit arises due to the breach. Sometimes the liquidated damages are the amount of a deposit or a down payment, or are based on a formula (such as 10% of the contract amount). The non-defaulting party may obtain a judgment for the amount of liquidated damages, often based on a stipulation (clear statement) contained in the contract, unless the party who has breached the contract can make a strong showing that the amount of liquidated damages was so "unconscionable" (far too high under the circumstances) that it appears there was fraud, misunderstanding or basic unfairness.
See also: contract damages
punitive damages
DAMAGES ASSESSED IN ORDER TO PUNISH THE DEFENDANT FOR OUTRAGEOUS CONDUCT
Punitive damage; Exemplary damages; Punitive Damages; Punitive compensation; Vindicative damages
¦ plural noun Law damages exceeding simple compensation and awarded to punish the defendant.
Esempi dal corpus di testo per liquidated damages
1. "As previously stated, such delay, if it was to occur, would be likely to lead to significant additional costs, including liquidated damages."
2. A contract should protect the purchaser interest through a bid bond, performance bond, bank guarantee, delay penalty, liquidated damages, termination due to convenience or breach.
3. The payment of liquidated damages daily by the seller under Istithna contract would help off–set such loss to the buyer and lessor under forward lease agreement.
4. Qantas said its pre–tax profit of A$671 million recognized A$104 million in liquidated damages from Airbus due to the delayed delivery of the A380.
5. However it has warned that if it fails to meet deadlines to complete Wembley it would face "significant additional costs including liquidated damages." "Clearly the program has various milestones we‘re working with our client to achieve," spokesman Chandler said.