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Representation – A representation is a statement of a past or present fact, made as of a moment in time to induce a party to act. Representations are assertions that the parties to an agreement make to each other, assertions…
The Black’s Law Dictionary defines ‘Liquidated Damages’ as “An amount contractually stipulated as a reasonable estimation of actual damages to be recovered by one party if the other party breaches; also If the parties to a contract have agreed on…