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What are the purposes of incorporating a penal clause to an obligation in law obligations and contracts?
Wiki User
∙ 9y ago
A penal clause in a contract acts as a deterrent to ensure that the parties fulfill their obligations as agreed. It serves as a form of security for the performance of the contract and provides a remedy in case of breach. Additionally, it helps to compensate the non-breaching party for any losses incurred due to the breach.
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