word
liquidated damages
LIK-wid-ay-ted DAM-ih-jez
ˈlɪkwɪdeɪtɪd ˈdæmɪdʒɪzListen
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Syllable breakdown
liquidateddamages
Dictionary meaning
pre-determined amount of compensation specified in a contract to be paid if one party breaches a particular term; must be a genuine estimate of likely loss
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