Other Free Encyclopedias » Law Library - American Law and Legal Information » Free Legal Encyclopedia: Patients Rights to Plat

Penalty

pecuniary act law

A punitive measure that the law imposes for the performance of an act that is proscribed, or for the failure to perform a required act.

Penalty is a comprehensive term with many different meanings. It entails the concept of punishment—either corporal or pecuniary, civil or criminal—although its meaning is usually confined to pecuniary punishment. The law can impose a penalty, and a private contract can provide for its assessment. Pecuniary penalties are frequently negotiated in construction contracts, in the event that the project is not completed by the specified date.

User Comments

Your email address will be altered so spam harvesting bots can't read it easily.
Hide my email completely instead?

Cancel or