California Civil Code

§ 1677

CIV § 1677Div. 3 · Title 4.5 · Part 2 · Ch. 2

Statute text

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 invalid unless:

(a)The provision is separately signed or initialed by each party to the contract; and

(b)If the provision is included in a printed contract, it is set out either in at least 10-point bold type or in contrasting red print in at least eight-point bold type.

Legislative history

Added by Stats. 1977, Ch. 198.