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Simple English definitions for legal terms

liquidated amount

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A quick definition of liquidated amount:

Term: LIQUIDATED AMOUNT

Definition: A liquidated amount is a specific number that can be easily calculated based on the terms of an agreement. It is a predetermined amount that is agreed upon by both parties and is used to settle any disputes or damages that may arise. Think of it like a set price for a service or product that cannot be changed.

A more thorough explanation:

LIQUIDATED AMOUNT

A liquidated amount is a figure that can be easily calculated based on the terms of an agreement.

Example 1: In a rental agreement, the security deposit may be a liquidated amount. If the agreement states that the security deposit is equal to one month's rent, then the amount can be easily calculated based on the monthly rent.

Example 2: In a contract between two businesses, there may be a clause that specifies a liquidated amount for damages in case of a breach of contract. If the clause states that the liquidated amount is $10,000, then the amount is readily computed and agreed upon by both parties.

The examples illustrate how a liquidated amount is a predetermined figure that can be easily calculated based on the terms of an agreement. This helps to avoid disputes and uncertainty in case of a breach of contract or other issues. By specifying a liquidated amount, both parties can agree on the amount of damages or compensation in advance, which can save time and money in legal proceedings.

liquidated account | liquidated claim

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1a2b3c4d26z
11:15
In this analogy is the LSAT the NFL combine
JumpySubsequentDolphin
11:16
I told my family I won’t get any decisions until 2025 so they wouldn’t bombard me hahah
no i think there should be a Law School combine with all new drills except there is still the 40 yard dash
and a sub 4.5 gets you into any t14
LSAT can be one of the drills
letsseehowitgoesnow
11:17
so washu only called one person
So all the D1 athletes will get into a T-14. What else is new?
@TheAdoptedOne: that is called "Dean Poker Night" lol
@ClockworkBlue: I feel like most people could train for the 40 for the same amount of time as they do the LSAT and get close to sub 5 which would be equivalent to a 167+
this is like the schizophrenic posts JJK tik tok be putting out
powerscaling Law School deans up next
11:19
Election Day election day
Write in Dean Z vote
11:20
Saw a guy that wrote in Biden and he said no retirement for you buddy
1a2b3c4d26z
11:20
@ClockworkBlue: god I hope that's true
if the country was run the same as Mich Law it would be a better place
Imagine if election night was run by an adcom? Like, "yep, we could get the results Friday, or June 2025."
imagine if it was like Berkley applications
1a2b3c4d26z
11:22
Election status: Complete
1a2b3c4d26z
11:22
For months
triplethread
11:23
erection day
soapy
11:23
Shoutout to Robinhood's election bet not resolving until January
triplethread
11:23
is anyone else like certain that trump will win
ambitiouslizard
11:23
he aint winning
triplethread
11:23
i like being a pessimist
ambitiouslizard
11:24
he lost his re-election, why would he win this one?
1a2b3c4d26z
11:25
I have no idea why people have so much beef w berkeley's app
I've been reading a bit about "herding," which is this idea that pollsters are making the race look tied so they look right no matter who wins.
1a2b3c4d26z
11:26
Like... it's a more involved app but you don't have to do it? They're clearly trying to have some self-selection go on
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