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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.
The first use of US 48 was in the 1920s, in Northern California, before being absorbed by US 50. The original "US 48" was one of the original routes in the United States Numbered Highways system. Assigned in 1926, it ran between US 99 at French Camp, California, outside Stockton, and US 101 at San Jose, California. By 1931, however, the route ...
There are six classifications of damages which are compensatory, consequential, punitive, incidental, nominal and liquidated damages. [14] The objectives to fulfil the remedies is to make the plaintiff or suffering party not to suffer, the law allows several damages or compensation to cover the losses by the injured party.
California lawmakers have created a wildfire insurance fund with access to $21 billion that is meant to ensure that Southern California Edison remains solvent and victims' claims are paid in full.
(The Center Square) - California’s fire insurer of last resort has long been on the brink of insolvency. Not only could FAIR customers — in the absence of a government bailout — face major ...
Treble damages are usually a multiple of, rather than an addition to, actual damages, but on occasion they are additive, as in California Civil Code § 1719. When such damages are multiplicative and a person received an award of $100 for an injury, a court applying treble damages would raise the award to $300. [1]
A controlled burn in Calaveras Big Trees State Park has badly damaged a pair of giant sequoias named 'the Orphans,' outraging community members.
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.