These days it has become common to includ terms like liquidated damages and penalty in contracts beforehand to avoid possible losses in case of breach of contract by a party. You acknowledge you are responsible for all charges and necessary permissions related to accessing Sourceable through your mobile access provider. You will only access and use Sourceable in the way this agreement allows you. The personal information you provide to us may reveal or allow others to identify aspects of your life that are not expressly stated on your profile (for example, your picture or your name may reveal your gender). Liquidated damages and Penalties are very common legal terms that, often, make confusion to legal practitioners under the ambit of the Civil law System, let alone commoners. You also agree that Sourceable may communicate with you through your Sourceable account or through other means including email, mobile number, telephone, or delivery services including the postal service about your Sourceable account or services associated with Sourceable. To achieve our mission, we make services available through our website, mobile applications, and developer platform, to help you, your connections, and millions of other professionals meet, exchange ideas, learn, make deals, find opportunities or employees, work, and make decisions in a network of trusted relationships and groups. According to the American Bar Association, a simplified classification of legal terms is often needed to create a greater understanding. Also, advertisers receive the section of website that you are on when you click an ad on Sourceable. A liquidated damages provision fixes the sum payable as damages for a party’s breach and acts as a liability cap. The court will not enforce a liquidated damage clause if they consider it to amount to a penalty. We are constantly innovating to improve our Services, which means we may create new ways to collect information on the Service. • We won’t publish anything that is (or could be reasonably expected to be): defamatory to any person or thing; racially or religiously vilifies, incites violence or hatred; is likely to offend, insult or humiliate others based on race, religion, ethnicity, gender, age, sexual orientation or any physical or mental disability. This information helps us improve and secure our Services. 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Act dishonestly or unprofessionally by engaging in unprofessional behavior by posting inappropriate, inaccurate, or objectionable content to Sourceable; Publish inaccurate information in the designated fields on the profile form (e.g., do not include a link or an email address in the name field). B. Actual Damages and Reasonableness Before there can be any liquidated damages, there have to be actual damages. IF YOU ARE DISSATISFIED OR HARMED BY SOURCEABLE OR ANYTHING RELATED TO SOURCEABLE, YOU MAY CLOSE YOUR SOURCEABLE ACCOUNT AND TERMINATE THIS AGREEMENT IN ACCORDANCE WITH SECTION 7 (“TERMINATION”) AND SUCH TERMINATION SHALL BE YOUR SOLE AND EXCLUSIVE REMEDY. By clicking “Join Now,” you also consent to use electronic signatures and acknowledge your click of the “Join Now” button as one. Information from advertising partners which we use to help deliver ads more relevant to you. Maintaining your trust is our top priority, so we adhere to the following principles to protect your privacy: We may modify this Privacy Policy from time to time, and if we make material changes to it, we will provide notice through our website, apps, or other services or by other means so that you may review the changes before you continue to use Sourceable. When calculating damages, courts will often look at lost wages/income, related medical bills, the cost of repairs to damaged property, the costs of materials needed to deal with the injury (i.e. Please note that ideas you post and information you share may be seen and used by other Members, and Sourceable cannot guarantee that other Members will not use the ideas and information that you share on Sourceable. The trade secret value of source code is difficult or impossible to prove. Michigan law enforces these clauses. Both the negotiated agreements and our API and Plugin terms contain restrictions on how third parties may access, store, and use the personal information you provide to Sourceable. A liquidated damages clause will be enforced where the court finds that the harm caused by the breach is difficult to estimate, but where the amount of liquidated damages is … Note: You are entering into a legally binding agreement. Sometimes a party to a building contract may wish to avoid the agreed or liquidated damages clause (or indeed any damages) from applying in the particular case. The trick with an agreed amount of damages is to make what is called a ‘genuine pre-estimate’ of the damages that are likely to be suffered in the event of a breach of contract. Notably, other state courts have held that optional liquidated damage clauses are … Sourceable also enables third party developers (“Platform Developers”) to create applications (“Platform Applications”) that provide features and functionality using data and developer tools made available by Sourceable through its developer platform. Last revised on June 1st, 2013. KINDS. Sourceable is not responsible for and does not endorse any features, content, advertising, products or other materials on or available from Third Party Sites or Platform Applications. In the event you change or deactivate your mobile account, you must promptly update your Sourceable account information to ensure that your messages are not sent to the person that acquires your old number and failure to do so is your responsibility. Common thing in the construction industry knowledge was later settled on terms, including a us $ 20 payment... 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