Section 74(g) in Jammu and Kashmir Contract Act, Svt. 1977 (1920 A.D.)
(g)A borrows Rs. 100 from B and gives him a bond for Rs. 200 payable by five yearly instalments of Rs. 40 with a stipulation that, in default of payment of any instalment, the whole shall become due. This is a stipulation by way of penalty.
