28th December , 2021

Whether Proof of Actual Loss Necessary? - Kailash Nath Case

The rule contained under Section 74 of the Contract Act, 1872(for short “Act”) provides that when the parties have mentioned in the agreement the amount of compensation that is to be paid in the event of a breach. The aggrieved party is entitled to receive from the defaulted party a reasonable compensation not exceeding the amount mentioned in the contract.

  • Arbitration
  • Litigation
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