A liquidated demand refers to a predetermined amount of money or property that is requested and agreed upon by both parties or can be determined by law. It is distinct from an unliquidated claim, which is a request for an undetermined amount. A liquidated demand can be legally enforced by a court and is commonly included in a civil lawsuit complaint.
A liquidated demand is a request for money, property, or a legal remedy that is based on a previously agreed amount or one that has been determined by a court. It can be specified in a complaint during a civil action and refers to a claim that is either agreed upon by the parties or determined through a judicial proceeding. Examples include a person suing their landlord for a $500 security deposit, as agreed upon in the lease agreement, and a person suing their former employer for $10,000 in unpaid wages, which has already been determined by the court. These examples demonstrate that a liquidated demand is distinct from an unliquidated claim, which involves an undetermined amount owed.
A liquidated demand is a predetermined amount of money that is owed by one party to another, usually as part of a contract or agreement.
An unliquidated demand is an amount of money that is not predetermined and must be determined through negotiation or litigation. A liquidated demand, on the other hand, is a fixed amount that is agreed upon in advance.
Yes, a liquidated demand can be challenged in court if it is deemed to be unreasonable or excessive.
If a party fails to pay a liquidated demand, the other party may be able to seek legal remedies such as a lawsuit or arbitration.
Yes, a liquidated demand can be modified if both parties agree to the change.
Yes, a liquidated demand is generally enforceable in all states as long as it is reasonable and not considered a penalty.
Yes, a liquidated demand can be included in a lease agreement as a way to ensure that the tenant pays for any damages or unpaid rent.
The purpose of a liquidated demand is to provide certainty and predictability in contractual relationships by establishing a fixed amount of damages in the event of a breach.
Yes, a liquidated demand can be waived by one party if they agree to do so.
The amount of a liquidated demand is typically determined through negotiation between the parties or by using a formula based on the potential damages that could result from a breach of the contract.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
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