What are some pros and cons to having a liquidated damage clause in a contract?

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What are some pros and cons to having a liquidated damage clause in a contract?

2007-03-03 16:26:02 · 1 answers · asked by Greg P 1 in Business & Finance ➔ Other - Business & Finance

1 answers

It means that you pay for the damages fro the deposit and get back the rest.

It makes it happen faster than if you went to court.

Works better if you are on the sell side.

Essentially it protects investment in materials that you invest in a contract if their is a problem.

2007-03-07 13:02:35 · answer #1 · answered by Santa Barbara 7 · 0⤊ 0⤋