penalty


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Related to penalty: death penalty

penalty

A payment required as a result of breaking the law or sometimes for breaching the terms of a contract. Most contract drafters assiduously avoid the term because private penalties are not enforceable. Instead, contract drafters use the terms liquidated damages, delay payments, or late fees.Even the prepayment penalty is really not a penalty but compensation to a lender for the loss of income suffered when a loan is paid off earlier than the terms allow.

References in periodicals archive ?
Last, it is unclear whether this hospital readmission penalty structure is efficient, that is, if the full (financial and reputational) penalty is equal to the social cost of the activity being penalized.
Penalty Pros is confident with all Google penalty removals, and understands that time is of the essence.
They can roll over the balance into their own IRA and pay no tax, in which case distributions from that IRA before age 59 1/2 will be subject to the 10% penalty unless one of the other exceptions applies.
They must determine the existence and penalty periods of any gifts that might render an applicant ineligible for Medicaid, obtain a current appraisal of the property involved (including whether the applicant's equity in the home renders them Medicaid-ineligible), and determine the existence of an annuity for which the state must be named the remainder beneficiary.
Henry, Ribery and the electric Malouda took charge in the second half, creating three chances in succession -- the last a genuine penalty, with Gianluca Zambrotta clanging into Malouda.
For Prejean, however, her faith demands opposition to the death penalty.
The Federal Reserve Board announced on June 9, 2005, the issuance of a consent order of assessment of a civil money penalty against the Bank of Pontiac, Pontiac, Illinois, a state member bank.
From seeing the practice of the death penalty up close, I have no doubt that it is torture.
The existing 20 percent accuracy penalty would increase to 30 percent for listed and certain other reportable transactions that are not disclosed.
But the real racism in the death penalty is not in the race of the murderer, but in the race of the victim.
Consumers with blemished credit histories usually pay higher interest rates but the prepayment penalty may help reduce these rates.
Yet even though blacks committed a majority of murders, the Bureau of Justice Statistics reports: "Since the death penalty was reinstated by the Supreme Court in 1976, white inmates have made up the majority of those under sentence of death.