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Liquidated damages, also referred to as liquidated and ascertained damages (LADs), [1] are damages whose amount the parties designate during the formation of a contract [2] for the injured party to collect as compensation upon a specific breach (e.g., late performance). [3] This is most applicable where the damages are intangible.
Malayalam is an agglutinative language, and words can be joined in many ways. These ways are called sandhi (literally 'junction'). There are basically two genres of Sandhi used in Malayalam – one group unique to Malayalam (based originally on Old Tamil phonological rules, and in essence common with Tamil), and the other one common with Sanskrit.
Liquidated damages are an estimate of loss agreed to in the contract, so that the court avoids calculating compensatory damages and the parties have greater certainty. Liquidated damages clauses may serve either a compensatory or a punitive purpose and, when aimed at the latter, may be referred to as "penalty clauses".
Under common law, a liquidated damages clause will not be enforced if the purpose of the term is solely to punish a breach (in this case it is termed penal damages). [23] The clause will be enforceable if it involves a genuine attempt to quantify a loss in advance and is a good faith estimate of economic loss.
The adequate remedy at law is the legal remedies by meaning it is satisfactory compensation by way of monetary damages without granting equitable remedies. [ 4 ] As an operation of law , an attorney often must present to the court whether there is an adequate remedy.
A legal remedy, also referred to as judicial relief or a judicial remedy, is the means with which a court of law, usually in the exercise of civil law jurisdiction, enforces a right, imposes a penalty, or makes another court order to impose its will in order to compensate for the harm of a wrongful act inflicted upon an individual.
In contract, damages is a remedy to provide monetary compensation for loss; and damages may be unliquidated (general damages), or liquidated (pre-determined). In the absence of an out-of court settlement, unliquidated damages must be ascertained by a court or tribunal, whereas liquidated damages will be determined by reference to the contract ...
Keralapanineeyam (or Kerala Panineeyam, Keralapaniniyam) is a treatise on Malayalam grammar and rhetoric, written by A. R. Raja Raja Varma, grammarian, litterateur and one of the pioneers of Malayalam Language studies.