OBLIGATIONS WITH A PENAL CLAUSE

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SECTION 6

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8 Terms

1
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PENAL CLAUSE

It is in the nature of an accessory obligation which makes one party liable or makes him perform another prestation if the principal obligation is not fulfilled.

2
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PENAL CLAUSE

the place of indemnity for damages and the payment of interests in case of noncompliance with the obligation unless there is stipulation to the contrary.

3
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Inducement

a helps insure the performance of an obligation

4
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Punitive

punishment for noncompliance

5
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Subsidiary

if only the penalty will be enforced in case of breach.

6
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 Complementary

if both the principal obligation and the penalty can be enforced.

7
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Conventional

if the same was agreed upon or stipulated by the parties.

8
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 Legal

exists because it is expressly stated in the law.