Payment to be made in the event of default or breach of contract (breach of contract); also called contractual penalty, contractual penalty and convention penalty (a payment required for not fulfilling a contract). – In the ancient Church, in connection with the sacrament of penance, an obligation imposed on the penitent to pay a certain amount of money to an address designated by the confessor (confessor: a priest who hears confessions and is authorized to grant absolution); usually to a person or institution that has suffered harm as a result of the penitent’s actions. – The fine or penalty imposed by a court or authority – in particular, also the surcharge imposed by the tax office (CH: Steueramt; revenue office) for payment due to violation of tax regulations (punitive tax applied to prevent non-compliance, such as underpayment of income tax or disregard of the rules governing a business activity). – A suspension or penalty imposed by a sports court against a player or against an entire team (a handicap or monetary default fine awarded against a player or team for illegal play). – See indulgence money, amende, annaten, confession money, penance money, covenant, dispensation money, money forgiveness, cathedral money, church money, neglect money, sacrifice money, order money, palliative money, St. Peter’s penny, procuration money, coercion money.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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