[1] : The Collaborative International Dictionary of English v.0.48

penalty \pe"nalty\, n.; pl. penalties. f. p'enalit'e.
   see penal.
   1. penal retribution; punishment for crime or offense; the
      suffering in person or property which is annexed by law or
      judicial decision to the commission of a crime, offense,
      or trespass.
      1913 webster

            death is the penalty imposed.         --milton.
      1913 webster

   2. the suffering, or the sum to be forfeited, to which a
      person subjects himself by covenant or agreement, in case
      of nonfulfillment of stipulations; forfeiture; fine.
      1913 webster

            the penalty and forfeit of my bond.   --shak.
      1913 webster

   3. a handicap. sporting cant
      1913 webster

   note: the term penalty is in law mostly applied to a
         pecuniary punishment.
         1913 webster

   bill of pains and penalties. see under bill.

   on penalty of, or under penalty of, on pain of; with
      exposure to the penalty of, in case of transgression.
      1913 webster
see also:
penalties penal bill of pains and penalties bill on penalty of under penalty of 

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