Which of the following statements in relation to liquidated damages is correct?A.Parties t
Which of the following statements in relation to liquidated damages is correct?
A.Parties to a contract must stipulate an amount of money as liquidated damages
B.A party to a contract may claim liquidated damages and deposit where the other party breaches the contract
C.Where they are significantly higher than the damages incurred, a party may petition the court to make an appropriate reduction
D.They are a form of punishment in nature