Die Vertragsstrafe und ihre Grenzen.

»Penalty Clauses and their Limitation. A Comparative Study of German and English Law« Penalty clauses are contractual provisions in conflict between freedom of contract and protection of the debtor. The thesis focuses on the judicial reduction rights pursuant to 343 German Commercial Code (BGB) and 242 BGB, as well as on invalidity pursuant to 138 BGB. With regard to English law, the unenforceability of penalty clauses in virtue of the penalty doctrine is examined, in particular with regard to the rulings »Dunlop Pneumatic Tyre« and »Cavendish Square Holding«.