As previously mentioned, it is widely accepted under common law and western jurisdictions, which are commonly employed in maritime contracts, that demurrage, in the context of a voyage charterparty, is a provision for liquidated damages
While some other areas of the law allow for arbitrarily assigning dollar figures to unquantifiable events, automobile accidents, for example, liquidated damages
doctrine insists that there be some nexus between the agreed upon damages and the foreseeable loss.
Commercial factors play a part, and the agreement of a liquidated damages
sum may well be the product of negotiation or be reflective of the parties' agreement as to risk allocation.
The duty to mitigate damages, therefore, impacts the amount of avoidable costs that a firm may be able to use to justify the liquidated damages
clause-75% in the authors' prior example.
This rule is the subject of considerable academic debate, and some states are in fact more liberal in their approach to liquidated damages
are available to plaintiffs who demonstrate a violation of the FLSA or a "willful" violation of the ADEA (235) for "an amount equal to the amount deemed to be unpaid [wages or compensation]," (236) though compensatory damages are generally unavailable under these statutes, (237) with certain exceptions.
Why include a liquidated damages
clause in a restrictive covenant?
Therefore, liquidated damages
should be a reasonable estimate of actual damages.
Next, in response to Klyap's stop payment, on 26 February 1999 the district filed suit in state court to enforce the liquidated damages
The plaintiff sought liquidated damages
in the amount of $109,029.
A common, but sometimes misunderstood, provision in contracts is a liquidated damages
Schleier(1)(*) that section 104(a)(2) of the Internal Revenue Code(2) does not authorize a former United Airlines pilot to exclude from his gross income the amount received in settlement of a claim for back pay and liquidated damages
under the Age Discrimination in Employment Act of 1967.