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Section 73 of the Act provides for compensation in terms of damages arising due to a breach of contract. As per this section compensation would be awarded only for the loss in regular course of business or such loss which the parties knew would likely occur because of such breach.
1Hire the right attorney. Not all attorneys are alike.2Compile all of your documents and evidence. Be prepared when you visit your attorney.3Ask your attorney to analyze your case.4Explore settlement.5Ask your attorney to keep you informed.
To enforce your business contract, you should start by contacting the other party to see if she intends to perform -- to fulfill her part of the agreement. If the other party has not substantially performed on the contract after being provided notice, you may institute legal action for breach of contract.
2006) (The elements of a breach of contract claim are: (1) the existence of a valid contract; (2) the plaintiff's performance or tendered performance; (3) the defendant's breach of the contract; and (4) damages as a result of the breach.)
A contract is enforceable if a court is willing to obligate both parties to carry out the terms of the agreement. Courts deem contracts enforceable if the terms are willingly agreed to by the parties and something of value is exchanged between the parties.
When a breach of contract occurs or is alleged, one or both of the parties may wish to have the contract enforced on its terms, or may try to recover for any financial harm caused by the alleged breach. If a dispute over a contract arises and informal attempts at resolution fail, the most common next step is a lawsuit.
In order to claim damages for the breach, you must be able to establish that the contract was breached by the other party. Anticipatory breach- Section 39 of the Indian Contract Act, 1872 talks about the refusal of a party to perform the promise wholly.
The existence of a contract; Performance by the plaintiff or some justification for nonperformance; Failure to perform the contract by the defendant; and, Resulting damages to the plaintiff.