stipulated damages
- In the context of Louisiana's civil law, stipulated damages refer to a predetermined compensation that is agreed upon by the parties involved in a contract, in case of a breach
- If the construction project is not completed on time, the company will have to pay stipulated damages as mentioned in the contract.
- The tenant failed to maintain the property as per the lease agreement, therefore he was liable for the stipulated damages.
- The contract includes a clause on stipulated damages to cover potential losses if either party does not fulfill their obligations.
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