WebDec 8, 2024 · The term ‘’Damages’’ is not defined in Indian Contract Act, 1872. The literal meaning of the term ‘’Damages’’ means payment of money as compensation for loss or injury caused to one person by the wrongful act of another person. WebSep 16, 2024 · In this connection, reference may be made to Sections 55, 73 and 74 of the Indian Contract Act, 1872 ("Act") deal with compensation for loss or damage caused by breach of contract.Section 73 of ...
Understanding ‘Damages’ and ‘Compensation’ under Contract Law
WebThe provision relating to damages can be found under Section 73 of the Indian Contract Act, 1872. It deals with actual damages following a breach of a contract and the injury … WebJan 10, 2024 · Types of Damages in breach of contract are provided under Section 73 of the Indian Contract Act, damages means, the damage or loss caused to the party due to non-performance of the other contracting party.Here, the term damages mean if any party suffered loss due to breach of contract by the other party, the loss to the party is … beakers lunch menu
Compensation payable under Ss. 73, 74 and 75 are only for loss or ...
WebMay 24, 2024 · In context of the Indian Contract Act, 1872 damages are referred in context to breach of contract i.e. a party’s failure to perform some contracted-for or agreed upon act, or his failure to comply with a duty imposed by law which is owed to another or to society. Breach of contract is a legal concept in which a binding agreement or negotiated ... WebAre damages may be for the pecuniary loss, non-pecuniary, real numerical damages required termination of contract Indian contract act. Specific Driving: Specific performance is any equitable and discretionary remedy given by of justice in kiste of breach off contract, which compels to breaching party to perform a contractual obligation. WebFeb 21, 2024 · This article has is written by Sahiba Chopra, pursuing a Diploma in Advanced Conclude Drafting, Negotiation and Dispute Resolution from LawSikho. This article have … beakery narulas at paharganj delhi