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Parky Parks Ltd has a contract with Slides R Us for the provision of children's...

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Parky Parks Ltd has a contract with Slides R Us for the provision of children's playground equipment. The contract contains a clause for liquidated damages and puts the figure at £500k. Which of the following statements is correct? Select TWO

A.

Liquidated damages needs to be a 100% accurate figure

B.

If damages exceed £500k Parky Parks can apply to the courts to get Slides R Us to pay above this amount

C.

Damages under the amount of £500k are not required to be paid to Parky Parks

D.

liquidated damages is a genuine estimate of loss

E.

costs incurred above £500k will be covered by Parky Parks Ltd

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