Examlex
Discuss the importance of reliability and validity in the scientific method with examples.
Liquidated Damages
A contractual provision that determines in advance the amount of damages to be paid if a party breaches the contract.
Breaching Party
The party in a contract who fails to fulfill their contractual obligations, thereby violating the agreement.
Objective Impossibility
A situation where it is not possible to carry out a contract's obligations due to uncontrollable external circumstances.
Bankruptcy
A legal proceeding involving a business or individual that is unable to repay outstanding debts, leading to the disposition of assets to pay creditors.
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