A contract clause which specifies the amount of damages to be paid in the event of a breach is called:

Question

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A liquidated damages clause specifies the amount of damages to be paid in the event of a breach. Specific performance clauses require the breaching party to fulfill its obligations under the contract, while consequential and incidental damages clauses relate to the types of damages that may be awarded in the event of a breach, not the specific amount.

A Contract Clause Which Specifies the Amount of Damages to Be