In Construction Contracts, Penalty Clauses Are Technically Called "Liquidated Damages

question 42

True/False

In construction contracts, penalty clauses are technically called "liquidated damages clauses;" if they are labeled "penalty" clauses, there is a long line of cases that says they are not enforceable.

Identify the significance of discussing legal fees upfront with a lawyer.

Know the regulatory role of provincial law societies in the legal profession.

Understand the different bases on which lawyers may bill their fees.

Appreciate the conditions and implications of contingency fee agreements.

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Definitions:

Lab Technician

A professional skilled in performing various tests and experiments in a laboratory setting to support scientific research and diagnostic analysis.

Two-factor Theory

A psychological theory proposing that human emotions are influenced by two main factors: arousal and valence, affecting how positive or negative an emotion is experienced.

Extrinsic

Refers to motivations or rewards that come from outside an individual, such as money, recognition, or praise.

Hygiene Factors

Elements identified by Herzberg that influence job satisfaction, including company policies, working conditions, and salary, but primarily prevent dissatisfaction rather than enhance satisfaction.