The suffering, or the sum to be forfeited, to which a person subjects himself by covenant or agreement, in case of nonfulfillment of stipulations; forfeiture; fine.
an additional sum that may be charged in certain circumstances
an agreement to pay a stipulated sum on breach of contract, irrespective of the damage sustained
a pecuniary sum, set by judicial ruling, which the convicted person will be required to pay if he does not honour the principal obligation
a sum that is disproportionate to the actual harm
a sum which a party agrees to pay or forfeit in the event of a breach
It is a sum of any currency which administrator removes from the user account and transfers into the system.
Payment for damages for breaching a contract
Fine for breaching a rule, term of a contract or law.
A sum of money paid to a lender for the privilege of prepaying a mortgage in part or in full, outside the set amount in the terms of the mortgage.
If a provision of a contract which professes to fix damages that may be claimed if a relevant clause is breached amounts to a penalty for failure to comply, rather than a genuine pre-estimate of loss, it may be unenforceable.