Which ONE of the following statements is CORRECT?
A. A specified damages clause is a genuine attempt to pre-estimate a loss which is likely to be caused by the breach.
B. A specified damages clause for non-payment will always be valid even if the amount specified is higher than the payment which should have been made.
C. If a clause is described as a penalty, that wording will be conclusive and the clause will be void.
D. A penalty clause is void and the innocent party is entitled to unlimited damages.