A contract clause indicating damages to be recovered in the event of under-performance, with the proposed damages being a genuine pre-estimate of loss, is called a:
A contract clause indicating damages to be recovered in the event of under-performance, with the proposed damages being a genuine pre-estimate of loss, is called a:
A . Punitive damages clause
B . Liquidated damages clause
C . Penalty clause
D . Unliquidated damages clause
Answer: B
Explanation:
Liquidated damages clause.
The QUESTION is pretty much a definition of a liquidated damages clause.
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