penal sum
penal sum n: a sum to be paid as a penalty esp. under the terms of a bond

Merriam-Webster’s Dictionary of Law. . 1996.

Look at other dictionaries:

  • penal sum — noun 1. : a sum of money payable under a statute as a forfeiture for wrongdoing by the wrongdoer to the person wronged 2. : a sum of money or penalty agreed upon in a bond or in a contract to be paid to one party in case there is a breach of the… …   Useful english dictionary

  • penal sum — The amount of the penalty specified in a bond or undertaking for its breach or non fulfilment …   Ballentine's law dictionary

  • penal — Punishable; inflicting a punishment; containing a penalty, or relating to a penalty @ penal action In its broadest context, it refers to criminal prosecution. More particularly, it refers to a civil action in which a wrongdoer is subject to a… …   Black's law dictionary

  • penal — penality /pi nal i tee/, n. penally, adv. /peen l/, adj. 1. of, pertaining to, or involving punishment, as for crimes or offenses. 2. prescribing punishment: penal laws. 3. constituting punishment: He survived the years of penal hardship. 4. used …   Universalium

  • penal — /ˈpinəl / (say peenuhl) adjective 1. of or relating to punishment, as for offences or crimes. 2. prescribing punishment: penal laws. 3. constituting punishment: penal servitude. 4. used as a place of punishment: a penal settlement. 5. subject to… …   Australian English dictionary

  • Penal Laws — • Treats of the penal legislation affecting Catholics in English speaking countries since the Reformation. Catholic Encyclopedia. Kevin Knight. 2006. Penal Laws     Penal Laws      …   Catholic encyclopedia

  • Penal Code (Singapore) — The Penal Code of Singapore [Singapore Statute | c ed = 1985] sets out general principles of the criminal law of Singapore, as well as the elements and penalties of common criminal offences such as homicide, theft and cheating. The Penal Code… …   Wikipedia

  • bill penal — A written promise to pay a larger sum than the promisor owes …   Ballentine's law dictionary

  • Kirtland Safety Society — Bank note issued by the Kirtland Safety Society in early 1837, after its reorganization. The Kirtland Safety Society (KSS) was a quasi bank organized in 1836 (and reorganized on January 2, 1837) by leaders and followers of the Church of the… …   Wikipedia

  • Surety bond — A surety bond is a contract among at least three parties: * The principal the primary party who will be performing a contractual obligation * The obligee the party who is the recipient of the obligation, and * The surety who ensures that the… …   Wikipedia

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