Built Intelligence

An Introduction to Financial Remedies for Breach of Contract (Part 2) LADs

An Introduction to Financial Remedies for Breach of Contract (Part 2) LADs

GET STARTED

Access hundreds of courses and learning paths like this one for a simple monthly subscription. No obligation, cancel your subscription at any time. Find out more.

The aim of this course is to show why the primary remedy for any breach of contract is an award of damages. It explores the normal mechanisms for claiming general damages for breach, and details how some contracts include provisions for liquidated damages, sometimes called LADs.

After studying this course, you should be able to:-

1. Identify and explain the nature and purpose of liquidated damages
2. Define and explain operation and effect of liquidated damages clauses
3. Identify the liquidated damages clauses in the main standard forms