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Liquidated Damages vs Penalties

By Gila El-Maayergy
Created 27 Jun 2008 - 17:38
Submitted by Gila El-Maayergy on Fri, 2008-06-27 17:38
Dear all,

What is the difference between penalty and liquidated damage with regards to identification of the termenology.

What is the difference in application of both LDs and Penalties in civil law and common law counttries?


Regards,
Gila
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