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Official Code of Georgia Annotated

Title 13. CONTRACTS · Chapter 6. DAMAGES AND COSTS GENERALLY

13-6-3. Measure of damages — Breach of bond.

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. (a)

    Provisions in bonds stipulating the damages to be paid in the event of breach shall be deemed penalties and shall not be enforceable unless the amount stipulated is reasonably related to the amount of the loss resulting from the breach and the damages resulting from the breach are uncertain in nature or amount or are difficult of ascertainment.#

  2. (b)

    Where provisions in bonds stipulating damages to be paid in the event of breach do not comply with the requirements prescribed in subsection (a) of this Code section, only actual damages shall be recoverable in the event of a breach.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Orig. Code 1863, § 2882; Code 1868, § 2890; Code 1873, § 2941; Code 1882, § 2941; Civil Code 1895, § 3795; Civil Code 1910, § 4391; Code 1933, § 20-1403.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t13-(v11)-2010-pdf.pdf, Volume V11, 2010 edition, page 393; merge action: carried; file SHA-256 18573afb153d.