stipulated damages

Definition of "stipulated damages"
  1. 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
How to use "stipulated damages" in a sentence
  1. If the construction project is not completed on time, the company will have to pay stipulated damages as mentioned in the contract.
  2. The tenant failed to maintain the property as per the lease agreement, therefore he was liable for the stipulated damages.
  3. The contract includes a clause on stipulated damages to cover potential losses if either party does not fulfill their obligations.

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