CLIENT waives any claim for consequential, exemplary, special or incidental damages or for the loss of the use of the home/building even if the CLIENT has been advised of the possibility of such damages. The parties acknowledge that the liquidated damages are not intended as a penalty but are intended
(i) to reflect the fact that actual damages may be difficult and impractical to ascertain;
(ii) to allocate risk among the INSPECTOR and CLIENT; and
(iii) to enable the INSPECTOR to perform the inspection at the stated fee.
What is meant by this paragraph?
What is meant by “consequential damages,” “exemplary damages,” “special damages,” “incidental damages,” and “liquidated damages.”
Why are these liquidated damages difficult and impractical to ascertain?
Why are these liquidated damages allocated among the inspector and client?