Case update: Ethoz Capital Ltd v Im8ex Pte Ltd and others [2023] SGCA 3 - A “make whole” clause, the sole discretion to vary interest rates, and an “extravagant” default.
In Ethoz Capital Ltd v Im8ex Pe Ltd (2023), the Singapore Court of Appeal held that a "make whole" payment of interest clause was an unenforceable penalty as, among other things, the.
California Civil Code says liquidated damages provision is presumptively valid or invalid depending on contract. If it involves retail purchase or rental of personal property or services or lease of property for housing, liquidated damages provision is presumptively void.