Laurens, Inc. contracted with GSP, LLC to widen a four-lane road to a six-lane road for ten miles. When Laurens, Inc. and GSP, LLC drafted the contract, the agreement contained a provision that if either party breached the contract, that party was liable to pay $10 million dollars to the nonbreaching party. This scenario is an example of .

penalty clause

Explanation:

A penalty clause is a provision included in the contract that requires any breaching party to compensate the other party for any damages produced by the breaching of the contract.

In this case, the penalty provision establishes a $10 million payment if any of the parties breaches the contract. That payment must be done to compensate for any damages suffered by the non-breaching party.

the most important factor in the

work process or industry is to retain the interest of the employee. and to

retain them, their salary or profit must be adjusted to the best value. unless

the employee does not do his job properly, employees must receive bonuses or

benefits to ensure them to stay in the company. it will actually make them stay

longer, make them feel important and reduce costs for hiring new employees.

explanation:

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