Courts in the U.S. and in the member states of the Council of Europe may void clauses in a contract that set excessive or unreasonably large damages in case of a breach.

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This is true. Courts in the U.S. and member states of the Council of Europe have the authority to void clauses in a contract that set excessive or unreasonably large damages in case of a breach, as it may be considered a penalty rather than actual compensation for the harm caused. This is often referred to as the doctrine of penalty clauses.