A Liquidated Damages Clause Allows Parties to Set the Amount

question 36

True/False

A liquidated damages clause allows parties to set the amount of damages in the event of breach.

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Definitions:

Actionable

Describes information or steps that are clear and practical enough to be implemented or acted upon.

Misrepresentation

Providing false or misleading information about a product, service, or company.

Price Discrimination

A pricing strategy where a seller charges different prices for the same product or service to different buyers, not based on costs.

Ethical Dilemma

A situation in which a difficult choice has to be made between two or more options, especially ones that are morally right but in conflict.