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Anticipatory Breach
Occurs when one party to a contract indicates, either through their actions or words, that they will not fulfill their contractual obligations, allowing the other party to seek remedies before the breach actually occurs.
Performance Date
The specified day by which a contractual agreement, task, or duty must be completed.
Liquidated Damages Clause
A contract provision that specifies a predetermined amount of money one party will pay to the other if they breach certain clauses of the contract.
Mitigate Loss
Actions taken to reduce the severity, seriousness, or painfulness of something, particularly in the context of financial losses.
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