Albuquerque New Mexico Liquidated Damage Clause in Employment Contract Addressing Breach by Employee

State:
Multi-State
City:
Albuquerque
Control #:
US-01153BG
Format:
Word; 
Rich Text
Instant download

Description

An employment contract may state the amount of liquidated damages to be paid if the contract is breached. Upon a party's breach, the other party will recover this amount of damages whether actual damages are more or less than the liquidated amount.

If the agreed-upon liquidated damage amount is unreasonable, the Court will hold the liquidated damage clause to be void as a penalty. If the Court declares the clause to be void, the employer would have to prove the actual damages.

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Albuquerque New Mexico Liquidated Damage Clause in Employment Contract Addressing Breach by Employee