stipulated damages

noun

  • Contract Law

Definitions of stipulated damages

  • amount which the parties to a contract agree is to be paid if there is a breach of contract (= failure to perform a contractual obligation)

    The greater the difficulty of estimating damages, the more likely the stipulated damages will appear reasonable.

Phrase Bank for stipulated damages

  • Should the Company elect to terminate the Employee without Good Cause, the Employee shall be entitled to payment, as stipulated damages, of one month’ s salary.

Additional Notes for stipulated damages

  • unliquidated damages (noun) a claim for damages that are not agreed in the contract as a fixed amount of money: It is contended that this would cover unliquidated damages for breach of contract.