Examlex
Identify the five steps to effective group decision-making. For each step, provide a description of what occurs and one common mistake that is made.
Liquidated Damages
A predetermined amount of money that must be paid as damages for failure to perform under a contract.
Identified Before Breach
A legal term referring to goods specified by the buyer and seller in a contract for sale before any default occurs.
Nominal Damages
A small amount of money awarded by a court to recognize that a legal wrong has occurred, but no substantial harm was done.
Compensatory Damages
Monetary compensation awarded to a plaintiff to offset losses or injuries that have occurred as a result of the defendant's actions.
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