penalty

An elastic term with many different shades of meaning; it involves idea of punishment, corporeal or pecuniary, or civil or criminal, although its meaning is generally confined to pecuniary punishment. Allied v. Graves, 261 N.C. 31, 134 S.E.2d 186, 192.
The sum of money which the obligor of a bond undertakes to pay in the event of his omitting to perform or carry out the terms imposed upon him by the conditions of the bond. A penalty is a sum inserted in a contract, not as a measure of compensation for its breach, but rather as punishment for default, or by way of security for actual damages which might be sustained by reason of nonperformance. Stein v. Bruce, Mo.App., 366 S.W.2d 732, 735.
The sum a party agrees to pay in the event of a contract breach, but which is fixed, not as a pre-estimate of probable actual damages, but as a punishment, the threat of which is designed to prevent the breach. Westmount Country Club v. Kameny, 82 N.J. Super. 200, 197 A.2d 379, 382.
A penalty provision operates to compel performance of act and usually becomes effective only in event of default on which a forfeiture is compelled without regard to actual damages sustained by party aggrieved by breach. Garrett v. Coast and Southern Federal Sav. and Loan Ass'n, 9 C.3d 731, 108 Cal.Rptr. 845, 850.
See penalty clause.
A penalty is a sum of money which the law exacts payment of by way of punishment for doing some act which is prohibited or for not doing some act which is required to be done. Hidden Hollow Ranch v. Collins, 146 Mont. 321, 406 P.2d 365, 368.
A statutory liability imposed on wrongdoer in amount which is not limited to damages suffered by party wronged. Missouri-KansasTexas R. Co. v. Standard Industries, Inc., 192 Kan. 381, 388 P.2d 632, 634. io wewjq HI ;fer ;
See also fine
- penal action
- statutory penalty
@ penalty clause
Provision in contract, loan agreement, savings instrument or the like providing penalties for default, late or missed payments, early withdrawals, etc. Such clauses are generally not enforceable by the courts. A provision for liquidated damages, however, will be enforced by the courts but the liquidated damages must be a reasonable estimate at the time of contracting of the likely damages from breach. Whether a provision for damages is a penalty clause or a liquidated damages clause is a question of law. Lake River Corporation v. Carborundum Co., C.A.I11., 769 F.2d 1284, 1288-92
@ penalty phase
The part of a criminal trial in which the fact-finder determines the punishment for a defendant who has been found guilty.
Also termed sentencing phase. Cf. guilt phase
@ penalty point
A punishment levied for a traffic offense and accumulated on the driver's record. If a driver receives a statutorily set number of points, the driver's license may be restricted, suspended or terminated.
@

Black's law dictionary. . 1990.

Synonyms:

Look at other dictionaries:

  • penalty — [ penalti ] n. m. • 1898; mot angl. « pénalisation », même rac. que pénal ♦ Sport Faute grave commise par un footballeur dans la surface de réparation de son camp. L arbitre a sifflé le penalty. Il y a penalty. ♢ Coup de pied tiré de l intérieur… …   Encyclopédie Universelle

  • penalty — pen·al·ty / pen əl tē/ n pl ties 1: a punishment that is imposed on a wrongdoer by statute or judicial decision 2: a pecuniary sum that by agreement is to be paid by a party who fails to fulfill an obligation to another and that is punitive… …   Law dictionary

  • penalty — pen‧al‧ty [ˈpenlti] noun penalties PLURALFORM [countable] 1. a punishment for breaking a law or rule: penalty for • There will be increased penalties for dumping oil at sea. • The offence carries a maximum …   Financial and business terms

  • Penalty — Pe nal*ty, n.; pl. {Penalties}. [F. p[ e]nalit[ e]. See {Penal}.] 1. Penal retribution; punishment for crime or offense; the suffering in person or property which is annexed by law or judicial decision to the commission of a crime, offense, or… …   The Collaborative International Dictionary of English

  • Penalty — [ˈpɛnl̩tɪ] (engl.: Strafe, Sanktion) bezeichnet im deutschen Sprachraum meistens den mit dem Fuß zu tretenden Strafstoß im Fußball und Rugby. einen Strafschuss bei verschiedenen Hockeyarten, siehe Penalty (Eishockey). den Strafwurf beim Kanupolo …   Deutsch Wikipedia

  • Penalty — o penalti (del ingl. «penalty»; pl. «penaltys» o «penaltis») m. En fútbol y otros deportes, máxima sanción que consiste en permitir que un jugador solo ante el portero del equipo contrario tire directamente a gol, como castigo a este equipo por… …   Enciclopedia Universal

  • penalty — ► NOUN (pl. penalties) 1) a punishment imposed for breaking a law, rule, or contract. 2) something unpleasant suffered as a result of an action or circumstance: feeling cold is one of the penalties of old age. 3) a penalty kick or shot. ● under… …   English terms dictionary

  • penalty — pénalty (angl.) / penálti ( nal ti) s. n., art. pénalty ul / penáltiul ( ti ul); pl. pénalty uri / penáltiuri Trimis de gall, 20.02.2008. Sursa: DOOM 2 …   Dicționar Român

  • penalty — penalty, casarse de penalty ► casarse, ► casarse de penalty …   Diccionario del Argot "El Sohez"

  • penalty of — With liability in case of infraction to the penalty of ● penalty …   Useful english dictionary

  • penalty — {{hw}}{{penalty}}{{/hw}}(sport) Nel calcio, calcio di rigore …   Enciclopedia di italiano

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