Prenuptial Agreement / Amending, Resolving Difference / Liquidated Damages
The typical Prenuptial Agreement
includes provisions for the agreement to be amended
at a later date, although these agreements are rarely amended.
The signatures of both spouses on a formal amendment
is usually required.
Upon occasion, the parties will also include
a process for resolving differences, such as requiring mediation
and even less often, the parties will include a liquidated
damages clause. These basically are provisions that are
added that state that in the event of any breach of the
agreement that actual damages would be difficult if not
impossible to reasonably assess, therefore a set amount
of “liquidated damages” are agreed to in advance
to have to be paid by the party violating the agreement.
Craig J. Bauman, Attorney at Law (858) 488-1497
Email: cjb@californialawpractice.com
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