Business / Debt / Liquidated Damages: A definite amount of damages, set forth in a contract, to be paid by the party breaching the contract. A pre-determined estimate of actual damages from a breach.
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Damages Noun Synonyms: compensation, reparation, indemnity
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Business / Real Estate / Nominal Damages: Monetary damages of a token amount awarded for a wrongful act where no loss occurred. MORE
Business / Real Estate / Punitive Damages: Damages awarded to one party to punish another party for dishonest conduct. Meant to deter others from committing a similar offense. MORE
Business / Debt / Liquidated Damages: A definite amount of damages, set forth in a contract, to be paid by the party breaching the contract. A pre-determined estimate of actual damages from a breach. MORE
Business / Real Estate / Exemplary Damages: Monetary damages that go beyond the actual compensatory damages. They are awarded to punish a wrongdoer for fraudulent, malicious and wrongful conduct. MORE
Business / Real Estate / Compensatory Damages: Monetary damages paid to compensate an injured party for a loss. MORE