Liquidated damages usually only exist when there is a contract between two parties. Basically what it means is that the two parties come together and they decide on what money amount is going to be assigned to a specific breach. So, a good example would be a landlord and tenant can agree to a certain amount if the tenant decides to break the lease early. This puts both parties in a place where they understand what their risks are, and it makes resolving any kind of breach a lot simpler.
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Portuondo Law Firm
Portuondo Law Firm provides custom services to South Florida businesses and residents. The Firm provides the personalized experience only a boutique firm can, without sacrificing quality.
Latest posts by Portuondo Law Firm (see all)
- An Interview with VoyageMIA: Life And Work With Marisa Portuondo - June 18, 2019
The following two tabs change content below.
Portuondo Law Firm
Portuondo Law Firm provides custom services to South Florida businesses and residents. The Firm provides the personalized experience only a boutique firm can, without sacrificing quality.
Latest posts by Portuondo Law Firm (see all)
- An Interview with VoyageMIA: Life And Work With Marisa Portuondo - June 18, 2019
