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This document contains a study guide section on obligations with penal clauses under Philippine law. It defines an obligation with a penal clause as one containing an accessory undertaking to pay a stipulated indemnity in case of breach. A penal clause is an accessory undertaking attached to an obligation to assume greater liability for non-performance. The document discusses that penal clauses are intended to ensure performance and substitute penalty for damages. It notes that creditors can still recover d

Author

Lorraine Caliwan

Language

EN