Graham v. Bickham
Supreme Court of Pennsylvania
Graham v. Bickham, 4 U.S. 128 (Pa. 1795)
Graham v. Bickham
Opinion of the Court
— The substance of the agreement between the parties was, to buy and sell stock. The penalty was merely superadded as a security for performance ; and not as a sum to be paid and received absolutely, in lieu of performance. The plaintiff is entitled (notwithstanding the penalty) to recover damages, commensurate with the injury suffered by a nonperformance. The judgment must, therefore, be rendered in his favor, for the full amount of the verdict.
Reference
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