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LSDefine

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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windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
BulbasaurNoLikeCardio
7:51
@texaslawhopefully: best prices and only fast food that doesn't make me sick
matt gaetz ethics report released
paid for sex with a junior in high school
guarantee people still defend him
BulbasaurNoLikeCardio
9:51
I only read headlines and skimmed a random article of it since I am the only one at work this week. Seems like he is Republican Hunter Biden but not at the paying rent with poop paintings stage
ImpartialLion
9:55
Sent in my transcript at 6 am today and it’s processing. Think it will be processed before lsac closes tmrw?
BulbasaurNoLikeCardio
9:58
I would say it is a toss up, for how much LSAC charges us for everything they are extremely efficient in processing and sending stuff out BUT with a 30% uptake in applicants and the holidays it may be significantly slower unless it is ran through and processed by a computer program. Even if it takes them longer to process it, not like there is anyone at a school to request and review it after LSAC does their thing
Do we know if any of the t14 open at all this week
just called Fordham. they said there will be decisions going out today
so congratulations on pre xmas waves
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