liquidated damages: Lake River Corp. v. Carborundum Co.

write a three page analytical paper discussing how liquidated damages were calculated in the case called Lake River Corp. v. Carborundum Co. then provide your own reflection on how the damages were calculated. Was it fair? Do you recommend other ways? Any shortcomings that you might note from that approach?

The sequence of the essay should look somewhat like that:

1) What is Liquadated damages, and how is it usually calculated

2) What are the brief facts of Lake River Corp. v. Carborundum Co. (no more than a paragraph for the facts please)

3) How were the damages calculated in this case? and why?

4) Provide for your own critical point of view of the calculation. Do you think it is fair, do you like it or do you think it should have been done in another way.

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