2.3.1 Damages in Contract Law
2.3.1.1 Definition of damages Damages are monetary compensation for the damage, loss or injury that a party has suffered through a breach of contract. Damages for breach of contract are available as of right upon the proof of breach.
2.3.1.2 Damages under the Contracts Act 1950 Section 74 of the Contract Act limits a plaintiff’s claim for damages caused by a breach of contract. While Section 74(1) provides for damages occasioned in the normal cause of things, Section 74(2) emphasizes that no compensation should be given for any remote and indirect loss or damage sustained. Section 74 can be divided into two limbs which set the limits of damages claimable.
1. The First …show more content…
Wright J In the present case there is evidence that the City was of peculiar and practically unique value to the plaintiff. She was a cheap vessel, being old, having been built in 1892, but her engines and boilers were practically new and such as to satisfy the German regulations, and hence the plaintiff could, as a German shipowner, have her at once put on the German register. A very experienced ship valuer has said that he knew of only one other comparable ship, but that may now have been sold. The plaintiff wants the ship for immediate use, and I do not think damages would be an adequate compensation. I think he is entitled to the ship and a decree of specific performance in order that justice may be …show more content…
An injunction is a discretionary remedy (equitable remedy), and the Court in granting it may limit it to what the Court considers reasonable in all the circumstances of the
2.3.1.1 Definition of damages Damages are monetary compensation for the damage, loss or injury that a party has suffered through a breach of contract. Damages for breach of contract are available as of right upon the proof of breach.
2.3.1.2 Damages under the Contracts Act 1950 Section 74 of the Contract Act limits a plaintiff’s claim for damages caused by a breach of contract. While Section 74(1) provides for damages occasioned in the normal cause of things, Section 74(2) emphasizes that no compensation should be given for any remote and indirect loss or damage sustained. Section 74 can be divided into two limbs which set the limits of damages claimable.
1. The First …show more content…
Wright J In the present case there is evidence that the City was of peculiar and practically unique value to the plaintiff. She was a cheap vessel, being old, having been built in 1892, but her engines and boilers were practically new and such as to satisfy the German regulations, and hence the plaintiff could, as a German shipowner, have her at once put on the German register. A very experienced ship valuer has said that he knew of only one other comparable ship, but that may now have been sold. The plaintiff wants the ship for immediate use, and I do not think damages would be an adequate compensation. I think he is entitled to the ship and a decree of specific performance in order that justice may be …show more content…
An injunction is a discretionary remedy (equitable remedy), and the Court in granting it may limit it to what the Court considers reasonable in all the circumstances of the