Acontract clause which specifies the amount of damages to be paid in the event of a breach is called:

a. a covenant of damages clause.
b. a reliance interest of damages clause.
c. a liquidated damages clause.
d. an incidental damages clause.

A contract clause which specifies the amount of damages to be paid in the event of a breach is called C. a liquidated damages clause.

A contract clause is a specific section that is added into a clause and addresses specific subject matters or topics. These clauses are normally added to make sure each section understands and performs their duties.

A check will be written with the amount of $95. A sales discount, like 5%, 10days, simply means, you'll get 5% discount if paid within 10 days from the date of invoice. 

If you pay within the discount period, say 6 days from the invoice date, instead of paying $100, you'll pay just $95 ($100 × 95%). Computed another way as, ($100 - ($100 × 5%)).