Chapter 2. Default on Real Property Purchase Contract - California Civil Code Section 1676

1676.  Except as provided in Section 1675, a provision in a contract
to purchase and sell real property liquidating the damages to the
seller if the buyer fails to complete the purchase of the property is
valid if it satisfies the requirements of Section 1677 and the
requirements of subdivision (b) of Section 1671.

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Last modified: February 16, 2015