What are liquidated damages? | Sheryl Hunter | Hunter Business Law | We help your business | Request Consultation | 813-867-2640 | [ Ссылка ] | info@hunterbusinesslaw.com | 119 S Dakota Ave , Tampa, FL 33606
Liquidated damages is a term that will appear in some contracts. It's typically only used when you're able to come up with a financial figure for what kind of damages you would suffer. Or agree upon a financial figure of what kind of damages you would suffer in the event of a breach of a contract. It's not appropriate in all situations, but it can relieve an aggrieved party from having to prove actual damages. Therefore it can be very beneficial to include a liquidated damages clause.
There are some particulars about enforcing liquidated damages. You need to make sure that you've properly stated the liquidated damages language. You can't just say, "In the event of a breach it's going to be this amount." There's some magic language, at least under Florida law that you need to include in order to enforce a liquidated damages clause.
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