Which of the Following Statements Is the Best Description of 'Liquidated

Multiple Choice

Which of the following statements is the best description of 'liquidated' damages?

A) An amount not fixed in the contract and left for the court to determine.
B) An amount awarded to compensate the innocent party for the loss suffered as a result of the breach of contract.
C) An amount based upon a genuine pre-estimate of actual loss flowing from the breach of contract.
D) An amount awarded to punish the party in breach of the contract.