Question
X promises to deliver to Y a specific horse. Their contract contains a penal clause that in case of non-fulfilment, X shall pay a penalty
X promises to deliver to Y a specific horse. Their contract contains a penal
clause that in case of non-fulfilment, X shall pay a penalty of P10,000. X
wants to just pay the penalty instead of delivering the horse. Has Y the right to
refuse to accept the penalty in lieu of the horse?
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Business Law The Ethical Global and E-Commerce Environment
Authors: Jane Mallor, James Barnes, Thomas Bowers, Arlen Langvardt
15th edition
978-0073524986, 73524980, 978-0071317658
