Section 73 of the Indian Contract Act, 1872 [“the Act”] envisages the general principle of law that a party which has suffered losses in consequence of a breach of contract is entitled to receive compensation for losses incurred by it from the party which has committed the breach. Section 74, on the other hand is… Continue reading Compensation vis-à-vis Section 74 of Contract Act
Tag: compensation
Enforceability of No Damage Clauses in the Contract
Section 73 of the Indian Contract Act, 1872 [“the Contract Act”] embodies the settled principle of law that a party is entitled to receive compensation from the party that has breached the contract on the account of which the innocent party has suffered losses. This position of law is a driving force for the parties… Continue reading Enforceability of No Damage Clauses in the Contract
Prohibitory and Mandatory Injunctions
An injunction is an order by a court against the Defendant restraining him from doing or directing him to do an Act so as to prevent an irreparable injury from being caused to the Plaintiff. Injunctions can be in the form of a prohibitory injunction i.e. a preventive relief granted to the Plaintiff, restraining the… Continue reading Prohibitory and Mandatory Injunctions