What are liquidated damages? | W. Scott Van Ness | W. Scott Van Ness P.A. | A Biblical Approach to The Practice of Law | Contact Scott Van Ness Today | (941) 922-7900 | [ Ссылка ] | 2100 Constitution Blvd., Suite 118, Sarasota, FL 34231
Liquidated damages are basically an agreement ahead of time that this is going to be how much I'm damaged if you breach the contract. Often times, the contract will state that if one party doesn't do what they're supposed to do $X is what the damages are. In real estate contracts, often times, it becomes an option. In other words, the buyer or seller could choose the liquidated damages or they could choose to enforce the contract. It just varies from contract to contract.
