Damages For Breach Under Indian Conract Act

1390 Words Oct 29th, 2015 6 Pages
PROJECT – DAMAGES FOR BREACH UNDER INDIAN CONRACT ACT

When a contract has been broken by the party who suffers by such breach1is entitled to receive from the party who has broken the , contract compensation for any loss or damage caused to him by whch the natural course of things from such breach or which the parties knew when they made the contract ,to be likely to result from breach of it , such compensation is not to be given by the any remote loss or the damage sustained by the reason of breach.

Explanation –In estimating2 the loss or damage arising in the breach of the contract the means which are existed of remedying this inconvenience cause by the non performance of the contract must be taken into in an account

BREACH OF CONTRACT AND REMEDIES – The illustrations to the sections illustrates various kinds of breaches .There are 3 kinds of breaches upon aa remedies viz. SPECIFIC PERFORMANCE, INJUCTION 3 DAMAGES . This section deals with the last remedy .this section is triggered in the event of the breach of the contract and lays down the principle for asserting damages , the next section deals with the what is known as liquidated damages i.e. the amount agreed between the parties to pay with the event of breach. The damages contempted in the section are of pecuniary in nature or of a loss of a property the remote or the indirect damages which are faced by the party are triggered .the remote or indirect damages such as for the disappointment ,vexation of mind ,…
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