Specificity in terms refers to the clarity and precision of language used in contractual agreements. It ensures that the obligations, rights, and expectations of the parties involved are clearly defined, leaving little room for ambiguity or misinterpretation. This concept is particularly important in relation to liquidated damages and penalty clauses, as these provisions must be articulated with exactness to be enforceable and avoid being deemed as penalties rather than genuine pre-estimates of damages.
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