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Where the rate of interest prescribed in case of breach is too high, the Court can interfere

Under s.74 a stipulation for excessive interest on breach is treated as a penalty, so the court can interfere "On the satisfaction that the stipulation is by way of penalty"…

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Where the rate of interest prescribed in case of breach is too high, the Court can interfere

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Under s.74 a stipulation for excessive interest on breach is treated as a penalty, so the court can interfere "On the satisfaction that the stipulation is by way of penalty" and award only reasonable compensation.

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