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Liono4ka [1.6K]
2 years ago
11

Kenneth entered into a contract to sell his home to Valerie, who put down a $5,000 earnest money deposit. At the last minute, Va

lerie backed out of the deal and Kenneth kept the earnest deposit. This is an example of ______.
Business
1 answer:
densk [106]2 years ago
8 0

An example of accepting liquidated damages is when valerie backed out of the deal and Kenneth kept the earnest deposit.

<h3>What is a liquidated damages?</h3>

A liquidated damages refers to a pre-estimated probable loss that would be suffered from the late completion of a contract.

In conclusion, the example of accepting liquidated damages is when valerie backed out of the deal and Kenneth kept the earnest deposit.

Read more about liquidated damages

<em>brainly.com/question/25697446</em>

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