Liquidated damages clause Term Meaning in Real Estate - Guide

When a party fails to perform the terms of the contract to which it is obligated, then that party has to provide compensation

Devika Arora

6 years ago

Published Date: Jun 15, 2018

Updated Date: Mar 27, 2024

According to the Indian Contract Act, damages are in the context of breach of contract.

Liquidated damages clause requires inclusion of a provision that when a party fails to perform the terms of the contract to which it is obligated, then that party has to provide compensation to the other party that has incurred the loss.

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