California Civil Code 1676 – Except as provided in Section 1675, a provision in a contract to …
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Except as provided in Section 1675, a provision in a contract to purchase and sell real property liquidating the damages to the seller if the buyer fails to complete the purchase of the property is valid if it satisfies the requirements of Section 1677 and the requirements of subdivision (b) of Section 1671.
(Repealed and added by Stats. 1977, Ch. 198.)
Terms Used In California Civil Code 1676
- Contract: A legal written agreement that becomes binding when signed.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- property: includes property real and personal. See California Civil Code 14
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.