Article added on Wednesday, 14 January 2009
Please note that the advice in this article is now obsolete and should not be relied on.
It should be considered in a historical context only.

CONTRACTS

Do you have to pay liquidated damages?

Your company recently entered into a contract, but due to cash flow problems it now wants out. The other party has said there’s no “cooling off period” but will end the contract on payment of “liquidated damages”. What does this mean?

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