District of Columbia Declaration of Cash Gift with Condition

State:
Multi-State
Control #:
US-01974BG
Format:
Word
Instant download

Description

Liquidated damages may be incorporated as a clause in an agreement when the parties to the agreement agree to the payment of a certain sum as a fixed and agreed upon payment for doing or not doing certain things particularly mentioned in the agreement. It is the amount of money specified in a contract to be awarded in the event that the agreement is violated, often when the actual damages are difficult to determine with specificity.

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District of Columbia Declaration of Cash Gift with Condition