Contract Law - Remedies etc._pdf

A negabve covenant is a clause in the contract which

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Unformatted text preview: st loss that can possibly occur? If that is so, it is ____ likely for the clause to be enforced. Ø།  Is a single amount payable regardless of the extent of the loss or does the amount vary according to the extent of the loss? If it is the former, it is _____ likely for the clause to be enforced. 1(A)ii Liquidated Damages - Effect •  Assuming LD clause is held enforceable, what if the actual loss is greater? - Example 2: LD clause states: $5000; Actual Loss: $6000. How much can be claimed? •  Assuming LD clause is held not enforceable, can the actual loss be claimed? - Example 3: LD clause states: $5000; Actual Loss: $1000. Can the actual loss be claimed? DEPOSITS •  If one party to the contract pays the other a deposit and subsequently cancels the contract, what happens to deposit depends on several factors such as the following: •  (i) If the contract states that the deposit would be forfeited or it is non- refundable, then...
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This note was uploaded on 03/25/2013 for the course BSP 1005 taught by Professor Gong during the Fall '10 term at National University of Singapore.

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