GA Code § 13-6-3 (2021)
2021 Georgia Code|Title 13 - Contracts|Chapter 6 - Damages and Costs Generally|§ 13-6-3. Measure of Damages - Breach of Bond

  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.   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.    (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.)   RESEARCH REFERENCES   Am. Jur. 2d.   - 17 Am. Jur. 2d, Contracts, §§ 499, 500.   C.J.S.   - 25 C.J.S., Damages, § 195.   ALR.    - A provision in land contract for pecuniary forfeiture or penalty by a party in default as affecting the right of the other party to specific performance, 32 A.L.R. 584; 98 A.L.R. 877.    Provision in land contract for pecuniary forfeiture or penalty upon default of the purchaser as affecting the vendor's right to maintain an action for the purchase price, 32 A.L.R. 617.    Valuation clause in carrier's contract as limit, or as ratio, of recovery in case of partial loss, 41 A.L.R. 450.    Measure of damages for purchaser's breach of contract to buy real property, 52 A.L.R. 1511.    Stipulation as to amount recoverable for breach of contract against entering certain business or employment as a provision for liquidated damages or for a penalty, 59 A.L.R. 1135.    Stipulation as to damages in case of breach of contract for purchase of goods to be manufactured by other party, as penalty or liquidated damages, 79 A.L.R. 188.    Measure of damages for breach of contract for sale or purchase of equipment, supplies of gasoline, etc., used in operation of gasoline filling station, 81 A.L.R. 99.    Provisions by which upon breach of contract the entire amount remaining unpaid thereof shall become immediately due as one for penalty or for liquidated damages, 104 A.L.R. 223.    Provision in lease for pecuniary forfeiture where lease is prematurely terminated as one for liquidated damages, 106 A.L.R. 292.    Liability of building or construction contractor for liquidated damages for breach of time limit where work is delayed by contractee or third person, 152 A.L.R. 1349.   Provision in land contract for forfeiture of payments as one for liquidated damages or penalty, 6 A.L.R.2d 1401; 4 A.L.R.4th 993.   Validity and construction of provision for liquidated damages in contract with cooperative marketing association, 12 A.L.R.2d 130.   Allowance of attorneys' fees over and above penal sum stated in private contractor's bond, 59 A.L.R.2d 469.   Validity and construction of "no damage" clause with respect to delay in building or construction contract, 74 A.L.R.3d 187.   Contractual liquidated damages provisions under UCC Article 2, 98 A.L.R.3d 586.   Measure and elements of damages for breach of contract to lend money, 4 A.L.R.4th 682.   Modern status of defaulting vendee's right to recover contractual payments withheld by vendor as forfeited, 4 A.L.R.4th 993.   Recovery based on tortfeasor's profits in action for procuring breach of contract, 5 A.L.R.4th 1276.   Contractual provision for per diem payments for delay in performance as one for liquidated damages or penalty, 12 A.L.R.4th 891.