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Understanding Penal Clauses in Contracts by Leesh is a document available to read on EtoBox.
What is Understanding Penal Clauses in Contracts about?
The document discusses obligations with a penal clause under Philippine law, stating that a penalty substitutes damages and interest for non-compliance unless otherwise stipulated, and damages can still be claimed if the obligor refuses to pay the penalty or is fraudulent. It also defines principal and accessory obligations and obligations with a penal clause.
- Author
- Leesh
- Language
- EN