Lucky,a contractor,enters into a contract with Penny,a homeowner,to remodel her kitchen.The contract provides a specific completion date.The contract provides that if Lucky does not have the job finished by the date,Penny may deduct $100 per day from the contract price until the job is finished.This is an example of liquidated damages.

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Lucky,a Contractor,enters into a Contract with Penny,a Homeowner,to Remodel Her