Under Japanese law,parties to a contract may specify liquidated damages recoverable when a contractual obligation is not performed at all or not performed by a specified date.

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Japanese law provides for liquidated damages similar to those available in the United States.Under Article 420 of the Japanese Code,parties to a contract may specify in advance the amount of compensation payable when a contractual obligation is not performed at all or not performed by a specified date.

Under Japanese Law,parties to a Contract May Specify Liquidated Damages