Apr 07 , 2016

Tampa School of Real Estate

Liquidated Damages

Definition:   the amount of valuable consideration specified in an agreement as a penalty for default

Pronunciation:   \ˈli-kwə-ˌdāt\ \ˈda-mij\

Used in a Sentence:    Some contracts have a special box for parties to initial if they desire to treat the earnest money as liquidated damages.