In relation to the Contract Law of China:(a) explain the term ‘liquidated damages’, and st
In relation to the Contract Law of China:
(a) explain the term ‘liquidated damages’, and state the legal nature of them; (2 marks)
(b) state the rules relating to the award of liquidated damages; (6 marks)
(c) state the rule relating to the award of liquidated damages for delay in performing the contractual obligation. (2 marks)