These loans are intended to finance purchases that will quickly and reliably generate cash.
A business might use a self-liquidating loan to purchase extra inventory in anticipation of the holiday shopping season.
Many will recall John Hughes’ 1986 hit movie Ferris Bueller’s Day Off, and hardcore fans even know the locations, mostly around the Chicago area, where different scenes of the movie were filmed.
One of these locations was in north suburban Northbrook, where Glenbrook North and Glenbrook South high schools were used to represent the ficticious high school featured in the classic film.
Sackett, Trustee The purpose of the REMEC Liquidating Trust was to complete the winding-up of the affairs of REMEC, Inc. In 2005, shareholders approved the liquidation and dissolution of REMEC, Inc.
These damages are determined when a contract is drawn up, and serve as protection for both parties that have entered the contract, whether they are a buyer and a seller, an employer and an employee or other similar parties.
The mean home price in Northbrook is nearly 0,000, and the mean household income is well over 0,000.
While this is unusual for the Chicago area in general, it is not that unusual for the suburbs comprising Chicago’s North Shore.
Damages can be liquidated in a contract only if (1) the injury is either "uncertain" or "difficult to quantify"; (2) the amount is reasonable and considers the actual or anticipated harm caused by the contract breach, the difficulty of proving the loss, and the difficulty of finding another, adequate remedy; and (3) the damages are structured to function as damages, not as a penalty. A penalty is a sum that is disproportionate to the actual harm.
If these criteria are not met, a liquidated damages clause will be void. It serves as a punishment or as a deterrent against the breach of a contract. "One View Too Many." Boston Bar Journal 34 (April).n.