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If a state does not have a set limit in place already for liquidation damages, then how do the parties come up with what is

If a state does not have a set limit in place already for liquidation damages, then how do the parties come up with what is considered a reasonable amount? Are there certain professionals other than attorneys that can help with this matter? Also, reading your example for ordinary or general damages, is there a formula that is used to come up with the different price for damages from each party?

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