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On their first date, Rebecca asked Andy what he did for a living. Andy responded vaguely, "Oh, I work in retail." Rebecca had to ask Andy "What types of stores?" and "What types of positions have you held?" in order to get him to provide any specific details. We would categorize Andy's initial highly abstract response as equivocation.
Liquidated Damages
A provision in a contract that specifies a predetermined amount of money that must be paid as damages in the event of a breach by one of the parties.
Nominal Damages
Nominal Damages are a small sum awarded by a court when a legal wrong has occurred, but no significant actual loss was suffered by the plaintiff.
Compensatory Damages
Payments awarded to a plaintiff to compensate for harm, loss, or injury suffered due to another's wrongful act.
Liquidated Damages
A predetermined amount of money that must be paid as compensation for failure to fulfill a contract, serving as a penalty or deterrent against breach.
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