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Ica 5
Ica 5
Ica 5
Contract
In any contract, there are rights and obligation to
both the parties under contract.
Remedy means it is the way out given by law for
the enforcement of a right by the injured party.
When the contract is broken, the injured party
(the party at loss) has one more of the following
remedies
a)
Rescission of contract
b)
Suit for Damages
c)
Suit upon Quantum Meruit
d)
Suit for specific performance of contract
e) Suit for Injunction
Business Laws-Prof.Benny Pappachen
a- Rescission of Contract (sec 39)
(Cancellation of Contract)
-
Special Damage : This damage is aroused due
to breach of contract under special
circumstances.
The compensation can be awarded due to
indirect loss faced by the injured party
a)
Rescission of contract
b)
Suit for Damages
c)
Suit upon Quantum Meruit
d)
Suit for specific performance of contract
e) Suit for Injunction
Business Laws-Prof.Benny Pappachen