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Is the penalty for breach of contract for property in the southwest uptown of Country Garden legal?
The liquidated damages for the property in the southwest uptown of Country Garden are legal. Property contract liability for breach of contract stipulates that when one party fails to perform its contractual obligations, the other party may require the defaulting party to bear certain liability for breach of contract. There is no clear agreement on liquidated damages in the property contract, and the specific liquidated damages can be determined according to the actual losses of the parties. The legal provisions on liquidated damages in the property contract stipulate that both parties can freely negotiate to determine the terms of property fees and liquidated damages. Whether the property fee is charged as liquidated damages can be decided by both parties. Country Garden Group, namely Country Garden Holdings Co., Ltd., headquartered in Shunde, Foshan, Guangdong Province, is the largest new urbanization housing developer in China.
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