Examlex
When externalities are present, market prices do not reflect all the social costs or benefits of the activity.
Liquidated Damages Provision
A contractual clause that specifies a predetermined amount of money that must be paid as damages in the event of a contract breach by one of the parties.
Future Default
The possibility or likelihood of failing to make future payments on debt obligations.
Sufficiently Definite
A legal standard indicating that a contract or agreement contains clear, precise, and unambiguous terms that can be enforced.
Damages
Monetary compensation awarded by a court to a person who has suffered loss or harm due to the wrongful act of another.
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