- penalty clause
- noun (C) the part of a contract which says what someone will have to pay or do if they break the agreement, for example if they fail to complete work on time
Longman dictionary of contemporary English. 2004.
penalty clause
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penalty clause — n 1: a clause (as in a contract) that calls for a penalty to be paid or suffered by a party under specified terms (as in the event of a breach) and that is usu. unenforceable ◇ A penalty clause differs from a liquidated damages clause by not… … Law dictionary
penalty clause — penalty .clause n the part of a contract which says what someone will have to pay or do if they do not obey the agreement, for example if they do not complete work on time … Dictionary of contemporary English
penalty clause — A clause found in contract agreements that provides for a penalty in the event of default. Bloomberg Financial Dictionary * * * penalty clause penalty clause ➔ clause * * * penalty clause UK US noun [C] ► LAW a statement in an official agreement… … Financial and business terms
penalty clause — / pen(ə)lti klɔ:z/ noun a clause which lists the penalties which will be imposed if the terms of the contract are not fulfilled ● The contract contains a penalty clause which fines the company 1% for every week the completion date is late … Marketing dictionary in english
penalty clause — / pen(ə)lti klɔ:z/ noun a clause which lists the penalties which will be imposed if the terms of the contract are not fulfilled ● The contract contains a penalty clause which fines the company 1% for every week the completion date is late … Dictionary of banking and finance
penalty clause — noun also penalty indicia : the statement printed on the cover of a piece of government free mail giving notice of the penalty for private use to avoid payment of postage compare frank vt 1 … Useful english dictionary
penalty clause — A provision in a contract stating that if one party breaks the contract (e.g., by failing to deliver goods), that party will be required to pay a penalty, usually in money … Business law dictionary
clause — [klɔːz ǁ klɒːz] noun [countable] LAW COMMERCE a part of a written law, contract, or legal document that deals with a particular item or subject: • Clause 12 enables the Secretary of State to make orders to protect pension rights. asˈsignment… … Financial and business terms
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
clause — / klȯz/ n: a distinct section of a writing; specif: a distinct article, stipulation, or proviso in a formal document a no strike clause in the collective bargaining agreement claus·al / klȯ zəl/ adj Merriam Webster’s Dictionary of Law. Merriam… … Law dictionary
