The marketing contract may fix, as liquidated damages, specific sums to be paid by the member to the association upon the breach by him or her of any provision of the marketing contract regarding the sale or delivery or withholding of fishery products; and may further provide that the member will pay all costs, premiums for bonds, expenses, and fees, in case any action is brought upon the contract by the association; and any such provisions shall be valid and enforceable in the courts of this state; and such clauses providing for liquidated damages shall be enforceable as such and shall not be regarded as penalties.

Terms Used In Washington Code 24.36.440

  • Association: means any corporation organized under this chapter. See Washington Code 24.36.030
  • Contract: A legal written agreement that becomes binding when signed.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Fishery products: includes fish, crustaceans, mollusks, and marine products for human consumption. See Washington Code 24.36.030
  • Member: includes members of associations without capital stock and holders of common stock in associations organized with shares of stock. See Washington Code 24.36.030
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