What is the meaning of liquidated damages?

liquidated damages is an amount predetermined and agreed by the parties to an agreement as the total amount of compensation an injured party should receive if the other party breaches a specified part of the contract. (See damages).

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APABarry Goldsmith. (2010). liquidated damages. Retrieved September 22, 2026, from http://smartdefine.org/liquidated_damages/definitions/1157300
ChicagoBarry Goldsmith. 2010. "liquidated damages" http://smartdefine.org/liquidated_damages/definitions/1157300 (accessed September 22, 2026).
HarvardBarry Goldsmith 2010, liquidated damages, Smart Define, viewed 22 September, 2026, <http://smartdefine.org/liquidated_damages/definitions/1157300>.
MLABarry Goldsmith. "liquidated damages" 21 October 2010. Web. 22 September 2026. <http://smartdefine.org/liquidated_damages/definitions/1157300>