____ are an amount specified in the contract to be paid in the event of breach.
A) Compensatory damages
B) Liquidated damages
C) Real damages
D) Predetermined damages
E) Nominal damages

Question

Quizplus · Accepted Answer

Liquidated damages are damages that are agreed upon in advance by the parties to a contract as the amount of damages that will be paid in the event of a breach. This amount is typically specified in the contract and is intended to compensate the non-breaching party for the harm caused by the breach.

____ Are an Amount Specified in the Contract to Be