Response or Comment
A freshly minted phrase, if attractive in form, even though it connotes no new idea, will frequently have as extensive a circulation, even in our supreme courts, as would a real concept. In a contract for building two laboratories for the Department of Agriculture, the contractor had agreed that the United States should be entitled to the "fixed sum of $200, as liquidated damages * * * for each and every day's delay" in the completion of the buildings. The court decided that this was a stipulation for liquidated damage because it was the result of a "genuine pre-estimate" of the anticipated loss. Wise v. United States (May, 1919), Adv. 0. 343.
Drake, Joseph H. "Liquidation of Damages by Pre-Estimate." Mich. L. Rev. 18 (1919): 50-1.