WebPenalty definition: A punishment imposed for a violation of law. A sum established by a contract to be forfeited in lieu of actual damages in the event of a breach of the contract.

WebPenalty is the punishment imposed on a wrong doer. It can be in the form of imprisonment or fine. It can refer to a sum of money that is exacted as a punishment for either a wrong to the state or civil wrong. Generally penalty is used in the context of crimes but it can also be imposed for civil wrongs at times.

WebLaw Dictionary – Alternative Legal Definition. 1. The sum of money which the obligor of a bond undertakes to pay by way of penalty, in the event of his omitting to perform or carry out the terms imposed Upon him by the conditions of the bond. Brown; Tayloe v. Sandiford, 7 Wheat 13, 5 L. Ed. 384; Watt v. Sheppard, 2 Ala. 445.

WebInformation and translations of pénalty in the most comprehensive dictionary definitions resource on the web. ... Princeton's WordNet (1.00 / 1 vote) Rate this definition: punishment, penalty, penalization, penalisation noun. the act of punishing. penalty noun. a payment required for not fulfilling a contract. penalty noun.

WebA penalty clause is a provision in a contract that establishes a pre-determined penalty for breaching the agreement. The purpose of a penalty clause is to deter parties from breaching the contract and to provide compensation to the non-breaching party if a breach does occur. Penalty clauses are typically included in contracts for the sale of ...

Webnoun : death as punishment for a crime called also capital punishment see also cruel and unusual punishment, Gregg v. Georgia

WebAug 16, 2021 · Penalty Of Perjury Statement. A Penalty of Perjury Statement should clearly state that the statement “that you will be making contained in this form will be under penalty of perjury. The crime of perjury is punishable by imprisonment in the state prison for two, three or four years.”

WebA penalty is a punishment that someone is given for doing something which is against a law or rule. [...] See full entry Collins COBUILD Advanced Learner’s Dictionary. Copyright © HarperCollins Publishers COBUILD Collocations penalty fee access fee account fee additional fee administrative fee afford the fee application fee bank fee banking fees

WebA fine or mulct (the latter synonym typically used in civil law) is a penalty of money that a court of law [1] or other authority decides has to be paid as punishment for a crime or other offense. [2] [3] [4] [5] The amount of a fine can be determined case by case, but it is often announced in advance. [6]

WebFines and Penalties means civil fines or penalties assessed against an Insured Entity in a Reg- ulatory Proceeding. Fines and Penalties means fines and penalties which are civil, strict or administrative and which are insurable in the jurisdiction in which the Claim giving rise to them is determined. Fines and Penalties do not include any Tax ...

WebJun 10, 2020 · Penalty refers to a punitive measure which is imposed by law for undertaking an act which is forbidden or failing to perform a statutorily required act. It can take the form of imprisonment or fine. The word ‘penalty’ is derived from the word ‘penal’ which describes the punishment for correcting the action of the wrongdoer under a legal system

WebNov 15, 2022 · Unpaid tax is the total tax required to be shown on your return minus amounts paid through withholding, estimated tax payments and allowed refundable credits. We calculate the Failure to File Penalty in this way: The Failure to File Penalty is 5% of the unpaid taxes for each month or part of a month that a tax return is late.

Web(按日罰款) means a penalty for each day on which an offence is continued after conviction therefor; Sample 1 Sample 2 Based on 2 documents daily penalty. (每日罰款) means a penalty for each day on which the offence concerned is continued; Sample 1 Based on 2 documents Copy daily penalty.