C.C.P

9; White v. Arleth, 1 Bond 319, F*d.- Cas. No. 17,536. So where the stipulation was in respect of a matter certain in value, as the payment of a debt or liquidated money demand, and the sum fixed upon is greater than the debt or demand; L. R. 8 Cb. 1022. If a debt be secured by a stipulation that in case of its nofbeing paid at the appointed time, a larger sum shall become payable, the stipulation for the larger sum is in the nature of a penalty; L. K. 4 ri. L. 1; Leake, Contr. 3d ed. 939. Where a sum named is evidently to evade usury laws or statutory prohibitions, it will be treated as a penalty; Davis v. Freeman, 10 Mich. 188; Clark v. Kay, 26 Ga. 403; but see Gould v. Bishop Hill Colony, 35 111. 824. Where, by a clause in a building contract, the builder, in default of the completion of the work at a certain time, agreed to pay the owner of the property a stipulated sum for every day the building was delayed after that time, it was held to be a penalty and not an agreement to pay liquidated damages; Cochran v. Ry. Co., 113 Mo. 359, 21 S. W. 6; but see Monmouth Park Ass’n v. Iron Works, 55 N. J. L. 132, 26 Atl. 140, 19 L. R. A. 450, 39 Ain. St. Rep. 626. Nilson v. Jonesboro, 57 Ark. 168, 20 S. W. 1093. •The plaintiff as well as the defendant may show that a stipulated sum is to be considered a penalty and not liquidated damages, and he may prove the actual damages even if greater than the penalty; Noyes v. Phillips, 60 N. Y. 408. The stipulation will be sustained as liquidated damages in the following cases: