A contractor agreed to build a skating rink for the plaintiff at a price of $180,000. The rink was to be completed by December 1 and was designed to replace a similar but older rink that the plaintiff...

A contractor agreed to build a skating rink for the plaintiff at a price of $180,000. The rink was to be completed by December 1 and was designed to replace a similar but older rink that the plaintiff rented for $800 a month. A clause in the contract awarded the plaintiff “$100 per day in liquidated damages”for each day after December 1 that the rink was not completed. Was this a valid liquidated damages clause? Explain.