Definition
Penalty clause (Ro.: clauză penală, Fr.: clause pénale, n.f., Gr.: ποινική ρήτρα, Cz.: sankční doložka, Cr.: ugovorni penal/Klauzula o kažnjivosti) (See also: damages) = a contractual stipulation or provision whereby the parties agree in advance and in appreciation regarding the amount of compensation which shall be owed by the defaulting party, in the event of failure or improper fulfillment of obligations.
Useful links
Online Publications
http://www.ejls.eu/10/127UK.pdf - Garcia, Ignacio Marin, 2012, Enforcement of penalty clauses in civil and common law: a puzzle to be solved by the contracting parties, European Journal of Legal Studies
http://www.ugb.ro/Juridica/Issue1RO/6_Delimitari_ale_clauzei_penaleLudusanRO.pdf - Luduşan, Florin, 2014, Delimitarea clauzei penale de alte instituţii similare, George Bacovia University
http://www.reedsmith.com/files/Publication/e5e3e826-020f-4c4d-b5b1-ab1a8b50530f/Presentation/PublicationAttachment/085e07b6-e8f9-402c-b980-cc660a4956d2/0804crit.pdf - McKenna, J. Frank, 2008, Liquidated Damages and Penalty Clauses: A Civil Law versus Common Law Comparison, ReedSmith
http://www.jus.unitn.it/cardozo/Review/2003/gallarati.pdf - Gallarati, Alberto, 2002, La clausola penale: funzione deterrente e risarcitoria, Università degli studi di Trento
Publications
Adam, Ioan, 2011, Drept civil. Obligaţiile. Contractul, Bucharest, C.H. Beck Publishing House
Boroi, Gabriel, Anghelescu, Carla Alexandra, 2012, Curs de drept civil. Partea generală, 2nd Edition, Bucharest, Hamangiu Publishing House
Chirică, Dan, 2008, Tratat de drept civil. Contracte speciale, Volumul I. Vânzarea si schimbul, Bucharest, C.H. Beck Publishing House
Deleanu, Ion, Deleanu, Sergiu, 2003, Consideraţii cu privire la clauza penală, Pandectele Romane, supliment
Pop, Liviu, Popa, Ionuț Florin, Vidu, Stelian Ioan, 2012, Tratat elementar de drept civil. Obligațiile, Bucharest, Universul Juridic Pulishing House
Legislation
http://legeaz.net/dictionar-juridic/clauza-penala - Civil Code, Romania [Romanian]
http://www.legifrance.gouv.fr/affichCodeArticle.doidArticle=LEGIARTI000006436944&cidTexte=LEGITEXT000006070721&dateTexte=20080215&fastPos=1&fastReqId=1060617395&oldAction=rechCodeArticle%20 – Code Civil, Art. 1226, France [French]
http://www.dirittoprivatoinrete.it/la_clausola_penale.htm - Codice Civile, Italy [Italian]
http://www.brocardi.it/codice-civile/libro-quarto/titolo-ii/capo-v/sezione-ii/art1382.html - Codice Civile, Italy [Italian]
By Ioana Rațiu