If the parties agree in their contract what the damages for a breach shall be, they are said to be liquidated and, unless the agreement violates some principle of law, the parties are bound thereby.
History. Orig. Code 1863, § 2881; Code 1868, § 2889; Code 1873, § 2940; Code 1882, § 2940; Civil Code 1895, § 3794; Civil Code 1910, § 4390; Code 1933, § 20-1402.
Law reviews.
For article, “Not so Fast! Enforcing Accelerated Rent Clauses in Commercial Lease Agreements,” see 25 Ga. St. B.J. 19 (Dec. 2019).
For comment, “Refocusing Liquidated Damages Law for Real Estate Contracts: Returning to the Historical Roots of the Penalty Doctrine,” see 39 Emory L.J. 267 (1990).
Structure Georgia Code
Chapter 6 - Damages and Costs Generally
§ 13-6-2. Measure of Damages — Generally
§ 13-6-3. Measure of Damages — Breach of Bond
§ 13-6-4. Determination of Damages Generally
§ 13-6-5. Duty of Injured Party to Lessen Damages Resulting From Breach
§ 13-6-6. Damages and Expenses Recoverable — Nominal Damages
§ 13-6-7. Damages and Expenses Recoverable — Liquidated Damages Generally
§ 13-6-8. Damages and Expenses Recoverable — Remote or Consequential Damages
§ 13-6-9. Damages and Expenses Recoverable — Expenses Necessary for Compliance With Contract
§ 13-6-10. Damages and Expenses Recoverable — Exemplary Damages
§ 13-6-11. Recovery of Expenses of Litigation Generally
§ 13-6-12. Effect of Tender or Deposit in Court Before Trial Upon Recovery of Costs
§ 13-6-13. Recovery of Interest Upon Damages