Best definition of liquidated damages

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Question

Of the following, which is the BEST definition of liquidated damages? Damages in excess of compensatory damages that the court awards for the sole purpose of deterring the defendant and others from doing the same act again. Damages awarded to a party who cannot establish actual damages Damages awarded pursuant to the explicit terms contained in the damages clause of the contract that was breached Damages designed to place the nonbreaching party in the position that party would have enjoyed had the terms of the contract been performed.

Reference no: EM133615508

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