(1) If a payable penalty is disproportionately high, it may be reduced, on application by the obligor, to a reasonable amount by judicial decision. In judging the appropriateness, regard is to be had to every legitimate interest of the obligee, not merely their property interests. Once the penalty is paid, reduction is excluded.
(2) The same also applies, except in the cases governed by sections 339 and 342, if someone promises a penalty in the event of their taking or failing to take an action.