Compensatory Damages Are Stipulated in a Contract in an Amount

question 49

True/False

Compensatory damages are stipulated in a contract in an amount that the parties believe to be a reasonable estimate of the damages that will occur on a breach.

---

Definitions:

Trade Fixtures

Personal property items attached to a property that are used in a trade or business and can be removed by the lessee when the lease ends.

Sublease

An agreement where the original tenant of a lease rents out their space to another party (the subtenant) for a period within the lease term.

Fixtures

refer to objects that were originally personal property but became attached to and part of real property in a way that they cannot be removed without damage.

Lease Term

The duration for which a lease agreement is effective, specifying the start and end date, as well as conditions for renewal or termination.