I was charged £100 for overstaying in a car park - am I legally obliged to pay the fine?

I have a £100 parking charge for spending two hours and 17 minutes in a car park when I had paid for two hours. The car park charges £1 per hour, so the fine is clearly exorbitant. ShouldI I pay them about £5 to cover any loss and see them in court if they don't accept this or should I just pay the fine?

Asked on 13 December 2017 by Edward Watson

Answered by Honest John
After the Supreme Court Ruling in Beavis v Parking Eye, November 2015, the law says you have to pay any "reasonable" penalty and, though this is on the stiff side of reasonable, you are legally obliged to pay it.
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