| Abstract [eng] |
Master thesis is titled “Liquidated damages as a legal concept: a comparative analysis.” The thesis analyzes the concept of liquidated damages clause, establishing its’ definition, purposes and functions. In addition to that, liquidated damages are comparatively analyzed with other similar in form or purpose contractual clauses, thus distinguishing it as a separate legal concept, not be confused by practitioners with other forms of agreed damages, such as penalties. Finally, evaluating the need of uniform regime of this legal concept, national and international legal regulation of liquidated damages is examined. It was concluded that there is an apparent absence of uniform legally binding transnational legislation, which would benefit market participants operating in global environment by eliminating uncertainty for legal consequences when entering into contracts. |
