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 28, 2026, from http://smartdefine.org/liquidated_damages/definitions/1157300
ChicagoBarry Goldsmith. 2010. "liquidated damages" http://smartdefine.org/liquidated_damages/definitions/1157300 (accessed September 28, 2026).
HarvardBarry Goldsmith 2010, liquidated damages, Smart Define, viewed 28 September, 2026, <http://smartdefine.org/liquidated_damages/definitions/1157300>.
MLABarry Goldsmith. "liquidated damages" 21 October 2010. Web. 28 September 2026. <http://smartdefine.org/liquidated_damages/definitions/1157300>