The parties __________ add a liquidated damages provision to define and limit the amount of monetary damages in the event of a breach.

Name: The parties __________ add a liquidated damages provision to define and limit the amount of monetary damages in the event of a breach.
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Parties may choose to add a liquidated damages provision to their contract to specify damages in case of a breach, but it is not a requirement, hence "may" is the correct choice.

The Parties __________ Add a Liquidated Damages Provision to Define