Penalties meaning

Damages imposed by a contract for failing to meet a certain obligation, such as completion by the agreed-upon date.
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Plural form of penalty.
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(plural only, informal) A penalty shootout.
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Punishment in the form of fines or prison terms imposed on wrongdoers. Although normally applied in criminal cases, there are some cases of civil misdeeds for which a penalty (as distinct from a remedy) may be imposed.
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