Delimitarea clauzei penale de alte instuţii similare
Separation of the Penalties Clause from ther Similar Institutions

Summary/Abstract: The counterparties have the right to stipulate in the contract any contractual clause that is not contrary to public policy or morality. By the provisions contained in the contract, the parties define the rights and obligations arising from that contract, and the tasks for each of them. Thus, contractual clause is a stipulation included by the parties in the name of the principle of conventions' freedom. One of the most important contractual clauses is the penalty, by which the parties to the main contract determine in advance the extent of the damages to be paid by the debtor to the creditor in case of non-performance, defective or late performance of the benefit undertaken. Our study aims to study penalty clause against other contractual clauses such as pledge clause, forfeiture clause, clauses limiting liability, force majeure clause. The objectives of the study “Delineation of penalty clause and other contractual clauses”are to increase the interest of the contracting parties to the usefulness of the penalty clause. The creditor who benefits on the penalty clause is exempt of the obligation to prove the damage suffered because of a voluntary default of main obligation by the debtor. Parties are, therefore, free of any evidence regarding the existence and extent of the damage and consequently, the amount of damage owed by the debtor.

• Details
• Contents