Central Government Act
Section 74 in The Indian Contract Act, 1872
74. Compensation for breach of contract where penalty stipulated for.- 1[ When a contract has been broken, if a sum is named in the contract as the amount to be paid in case of such breach, or if the contract contains any other stipulation by way of penalty, the party
of any instalment, the whole shall become due. This is a stipulation by way of penalty.]