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Jun 30, 2021 · The types of damages in Contract Law are as follows: 1. General damages & Special damages, Nominal Damages, Substantial damages, Aggravated
Jun 3, 2019 · Section 73 provides compensation for loss or damage caused by the breach of contract. When a contract has been broken, the party that suffers from such infringement is entitled to receive compensation for any loss or damage resulting from such infringement.
Nov 13, 2023 · Section 73 of the Indian Contract Act, 1872 lays down the provision relating to damages . It provides that the party who breaches a contract is liable to compensate the injured party for any loss or damage caused due to the breach of contract. Illustration: - ‘A’ contract to repair B’s house in a certain way and receive the money in advance.
Feb 21, 2023 · Sections 73 and 74 of Indian Contract Act, 1872 entail two types of damages namely, unliquidated damages and liquidated damages. Section 73 states that in the event of a contract being brought to an end, the aggrieved party is entitled to claim from the party who committed the wrong, compensation for loss or damage being caused to it.
May 31, 2021 · What are damages. Ways to determine damages for different kinds of breaches. Remoteness of damages. Causation. Mitigation. Damages for direct, consequential and incidental losses. Damages for non-pecuniary losses. Tips and tactics to calculate the amount of damages for the breach of a contract. Hudson formula. Emden formula. Eichleay formula.
Jul 5, 2023 · A breach of contract occurs when one party fails to fulfill its contractual obligations, leading to legal consequences. In this article, we'll explore the concept of breach of contract under the Indian Contract Act, 1872.
Sections 73-75 of the Indian Contract Act, 1872, define remedy by way of damages as the entitlement of the suffering party to recover compensation for losses suffered due to non-performance of the contract. The damages can be of the following types: 1] Ordinary damages. On the breach of a contract, the suffering party may incur some damages ...
Jun 14, 2021 · The Law of Damages under Indian Contract Act, 1872: Section 73 & 74 of the Act contain provisions relating to breach of contractual obligations. Section 73 of the Act deals with damages arising upon breach of a contractual obligation, resulting in losses to the aggrieved party.
Feb 1, 2021 · Essentials of Damages. 6. Types of Damages. 7. Remoteness of Damage. 8. Measure of Damages. 9. Suit for Quantum Merit. 10. Claim for Quantum Merit. 11. Conclusion. What is a Contract?
This chapter of our contract law lecture covers remedies for a breach of contract, focusing on the most common and sought after remedy - damages.
