An agreed damage sum by the parties is

Question

An agreed damage sum by the parties is ​

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An agreed damage sum by the parties is called a liquidated damages clause. This is a provision in a contract that specifies the amount of money that a party will pay if they breach the contract. It is designed to compensate the non-breaching party for the damages they suffer as a result of the breach, and is considered enforceable if it is a reasonable estimate of the actual damages that would occur in the event of a breach.

An Agreed Damage Sum by the Parties Is ​

An Agreed Damage Sum by the Parties Is