A Liquidated Damages Clause Will Be Enforced by the Court

question 43

True/False

A liquidated damages clause will be enforced by the court if at the time the contract is made the amount is a genuine pre-estimate of the damages that a Court would award.

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Definitions:

Objective Side

Refers to the aspect of an issue or situation that can be quantifiably measured or verifiably observed, as opposed to subjective perceptions.

Lev Vygotsky

A Soviet psychologist best known for his theories on cognitive development, particularly the social development theory of learning.

Innate Characteristics

Refers to traits or qualities that are present in an individual at birth, not acquired or learned.

Social Institutions

Established systems or structures within a society that govern the behavior and expectations of individuals, such as family, education, and government.