Examlex
Which of the following best defines the term 'reach'?
Liquidated Damages Clause
A contract provision that establishes a predetermined amount of damages to be paid if one of the parties breaches the contract.
Material Breach
A violation of a contract's terms that is so substantial it fundamentally disrupts the contract's purpose, allowing the other party to terminate the agreement.
Difficult to Estimate
Refers to a situation, value, or outcome that is challenging to predict or quantify accurately due to varying factors or complexities.
Doctrine of Mitigation
A legal principle that requires a party suffering loss due to a breach of contract to take reasonable steps to minimize the damage or loss.
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