Browse:  A B C D E F G H I J K L M N O P Q R S T U V W Y Z
     
Enter a Legal Term

Search the Definitions

SELECT A WORD TO VIEW THE COMPLETE DEFINITION:
liquidated damages
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 formul...



The People's Law Dictionary by Gerald and Kathleen Hill Publisher Fine Communications