REMEDIES FOR BREACH OF CONTRACT

BY ASWATHY T.R. PRAVEENA R. PRABHA.

CONTRACT
Section 2(h) of the Indian Contract Act,1872 defines a contract as, an agreement enforceable by law.

Breach of contract
The failure of a parties to perform their obligations.

Right/Remedies
It confers a right of action upon the party concerned.

Remedies
Suit for Rescission Suit for Specific Performance Suit for Injunction Suit for Quantum Meruit Suit for Damages

Suit for Rescission

Cancellation of the contract or ceases the operation of the contract. The court may grant rescission where the contract is voidable at the option of the aggrieved party. If rightfully rescinds the party to contract is entitled to receive compensation or damages.

Suit for Specific Performance

The party aggrieved can claim specific performance according to the Specific Relief Act, 1963. It compels both the parties to carry out the respective obligations. The damages are not an adequate remedy for breach of contract , then the aggrieved party may bring an action for specific performance.

 Specific performance will be granted in those cases the subject matter is of special value. Eg : sale and purchase of unique and precious articles such as antiques , art painting , old furniture , etc.