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Liquidation Of Damages By Pre-Estimate, Joseph H. Drake

Articles

A freshly minted phrase, if attractive in form, even though it connotes no new idea, will frequently have as extensive a circulation, even in our supreme courts, as would a real concept. In a contract for building two laboratories for the Department of Agriculture, the contractor had agreed that the United States should be entitled to the "fixed sum of $200, as liquidated damages * * * for each and every day's delay" in the completion of the buildings. The court decided that this was a stipulation for liquidated damage because it was the result of a "genuine pre-estimate" of …