David Saks: April 2009

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Real Estate Practice : Lesson 116

                                                    business

If a clause is included in a contract that will award five thousand dollars to one party if the other part breaches the contract, and the party receiving the five thousand dollars cannot sue the party that breaches the contract for more than five thousand dollars, this clause is known as a just compensation clause.

Is this true or false ?

Take your time. The soution is npoosted below the wildlife photo.

wildlife

A. False

This type of clause is known as a liquidated damamges clause .

Just compensation is a Constitutional entity that requires the government to fairly compensate a property owner when the property owner's property is taken under eminent domain.

Liquidated damages is the full amount of money that parties to a contract will agree to in advance if there is a breach of contract.




David Saks



Time&Temp Memphis

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Comment balloon 0 commentsDavid Saks • April 23 2009 07:39PM
Real Estate Practice : Lesson 116
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