What is the Difference between 'Liquidated Damages' and "Penalty’?

Terrorism
Sometimes, parties to a contract stipulate at the time of its formation (i.e., in advance) that in case of breach of its performance by either of the parties, a certain specified sum will be payable as damages. Such a sum is known as:-(i) Liquidated Damages, or ADVERTISEMENTS: (ii) Penalty. (i) Liquidated damages: It is a sum fixed or ascertained by the parties to the contract, which is a fair and genuine per-estimate of the probable loss that might occur as a result of breach of contract. Thus, liquidated damages are an assessment of loss which in the opinion of the parties will occur due to breach. Such damages are effective and recoverable by the aggrieved party from the other. Image Source: hawaiiesquire.com (ii) Penalty: On the other hand, penalty is…
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290 Words Free sample Essay on If I Were a Millionaire

Terrorism
The modern age is a materialistic age. Virtually, there is a rule of money all over the world. In reality, almost everybody is after money whatever he may profess to be or profess to do.It need not be stressed that now everybody wants to become a millionaire. Normally, it is very difficult for a poor man to become a millionaire. But there are certain channels and means such as a jackpot lottery, G.K. Competitions, literary and other prizes, etc. which can make even a pauper to realize his dream of becoming a millionaire if he is lucky. In the normal course, I cannot think of becoming a millionaire.It can happen only if I get some lucky stroke. But I have the power of imagination and I can become a millionaire…
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406 Words Free sample Essay on Terrorism

Terrorism
Of late, terrorism has become a world-wide phenomenon. India had been telling the world of the large-scale destruction being caused to life and property in Kashmir by the Pakistan sponsored terrorists. But most of the western world had turned a blind eye to India’s pleadings.The west, particularly the USA, realized its taste when the (WTC) towers in America were leveled down through explosions caused by the sudden attacks by striking aero planes on them on 11th September, 2001 (9/11). Thus, the 9/11 event opened the eyes of the world. As a result of this 9/11 incident, America took up the task of defending the world and getting it rid of the scourge of terrorism.Accordingly the American President in collaboration with the U.K Prime Minister Tony Blair drew up a road…
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Short Essay on Forgiveness

Terrorism
The famous saying goes “To err is human, to forgive is divine”. What makes the power of forgiveness comparable to God? The very nature of humans is to get angry and feel resentful towards those who have hurt us or did some harm to us in any way.We tend to remember the undesirable actions of others which impacted us and made us feel bad. Forgiveness is the act of overcoming the feeling of resentment or revenge for the person who has done wrong actions.Forgiveness is a virtue but the way people perceive it is quite relative. Some people think that certain actions are forgivable while others are not. Some people think that forgiveness encourages the wrongdoer to perform ill deeds repeatedly. Forgiveness is subjective and the act of forgiveness can…
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