Liquidated

Word Origin mid 16th century (in the sense ‘set out (accounts) clearly’): from medieval Latin liquidat- ‘made clear’, from the verb liquidare, from Latin liquidus (see liquid). Italian liquidare and French liquider, liquidate (sense 2) by Russian likvidirovatʹ. What does liquidate stock mean?

English dictionary definition of liquidated. To settle the affairs of b.

This category includes many different types of wholesale merchandise and products of liquidated , bankrupt and closeout companies, available to buy from auctoneers, liquidators and wholesalers of closeout and bankrupt stocks in the UK, Europe and other regions. Some of the will also include the information about the forthcomming liquidation auctions and biddings, as well as general. A clause within a contract which states for example ‘£0per week for every week that the work remains incomplete‘ is fixed even though the total amount actually payable cannot be ascertained until the length of the delay is calculated. If a liquidated damages payment constitutes a penalty it will be unenforceable. The term also describes sums expressly payable as liquidated damages under statute.

Liquidated ’ – Means a fixed or ascertainable sum. In all other cases where the court quantifies or assesses damages or loss, whether pecuniary or non-pecuniary, the damages are known as unliquidated damages.

Contracts generally include a clause making provision for the contractor to pay liquidated damages (L sometimes referred to as liquidated and ascertained damages - LADs) to the client in the event that the contract is breached. In building contracts, liquidated damages. The legal effect of liquidated damages clauses has long been a point of contention and its application has been argued many times over. There has been a plethora of case law on the point although the. The past few years have seen subtle but important shifts in how the concept of a penalty is defined.

How to use liquidate in a sentence. They are attractive as they avoid need for the injured party to prove actual loss resulting from breach. However, the amount of the liquidated damages payable under a liquidated damages clause must be a genuine pre-estimate of the anticipated loss resulting from breach.

A liquidated damages clause is a genuine pre-agreed amount that is paid following a specified breach of contract. However, liquidated damages clauses are not straightforward or even definitely enforceable. We advise on the grey areas. Namibia is a niche destination. Giant sand dunes ripple gracefully towards a magnificent sunset.

Salt flats blur towards a dazzling infinity. DAMAGES, LIQUIDATED , contracts.

When the parties to a contract stipulate for the payment of a certain sum, as a satisfaction fixed and agreed upon by them, for the not doing of certain things particularly mentioned in the agreement, the sum so fixed upon is called liquidated damages. Including a liquidated damages (LD) clause in a commercial contract is a popular way of dealing with the possibility of breach. The sum is fixed in advance and written into the contract. Requirements for a valid liquidated damages provision.

Kids Quad Bikes and Ride On Toys Available Trade Only from Wicked Distribution. Leading the way in selling palletised goods and stock clearance items. It considers the difference between liquidated damages and general (or unliquidated) damages and looks at the enforceability of LADs provisions and common grounds for challenging them (including that the clause is a penalty). Normally, the extent to which damage has been caused is specified in the contract itself, as a pre condition to pre empt any breach or violation of the contract by either party.

So liquidated damages equals an amount of money. The clause will only apply to those parts of the works (if any) which have been completed prior to termination. The employer can levy liquidated damages up-to the date of termination. Thereafter, he must claim general damages for loss arising from delay. These provisions allow the employer to claim or deduct a specified sum of money without having to prove its actual loss in a claim for damages.

Determine and apportioned or settle by agreement. When liquidated damages become unenforceable penalties is a question of law. Difficulty in ascertaining damages is not a sufficient reason to enforce a liquidated damages clause. Where a liquidated damages clause is in operation, the contractual obligation that has been breached is referred to as the primary obligation, and the payment obligation under the liquidated damages clause is called the secondary obligation.

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