Statutory Penalty
/ˈstætʃəˌtɔːri ˈpɛnəlti/
Definitions
- (n.) A penalty explicitly prescribed by statute for violation of a legal requirement or prohibition.
The company faced a statutory penalty for failing to comply with environmental regulations.
Forms
- statutory penalty
- statutory penalties
Related terms
See also
Commentary
Statutory penalties are distinct from contractual penalties, being imposed by law rather than agreement, and typically serve as deterrents or punishments for legal infractions.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.