Liquidated Damages Provisions Are Usually Not Enforceable

question 35

True/False

Liquidated damages provisions are usually not enforceable.

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Definitions:

Chapter 13

A type of bankruptcy under the United States Bankruptcy Code that allows individuals earning regular income to develop a plan to repay all or part of their debts.

Debtor's Petition

A formal request filed by an individual or business seeking relief from debt through bankruptcy proceedings.

Debts Dischargeable

Obligations that can be eliminated through bankruptcy, meaning the debtor is no longer legally required to pay them.

Chapter 13

A type of bankruptcy in the United States that allows individuals with regular income to develop a plan to repay all or part of their debts under court supervision.