Liquidated Damages May Be Any Amount, So Long as Both

question 520

True/False

Liquidated damages may be any amount, so long as both parties to a contract agree to the sum.

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Definitions:

First Impression

The initial perception or judgement formed upon encountering something or someone for the first time.

Prospective Employer

An individual or organization considering hiring someone for a job position.

Smog

A type of air pollution, typically a mixture of smoke and fog, that can have harmful effects on health and the environment.

Air Pollution

The presence of harmful or excessive quantities of substances including gases, particles, and biological molecules in Earth's atmosphere which can cause disease, death to humans, damage to other living organisms such as food crops, or the natural or built environment.