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In case of a breach of contract the remedy available to the aggrieved party is:
- a)Suit for recession
- b)Suit for damages
- c)Suit for specific performance
- d)All of the above.
Correct answer is option 'D'. Can you explain this answer?
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In case of a breach of contract the remedy available to the aggrieved ...
The remedy available to the aggrieved party in case of a breach of contract depends on the nature of the breach and the specific terms of the contract. Generally, there are three common remedies that the aggrieved party can seek:
1. Suit for Rescission: This remedy allows the aggrieved party to request the cancellation or termination of the contract. It is typically sought when one party has committed a fundamental breach of the contract, making it impossible or impracticable to continue with the agreement. Rescission seeks to restore the parties to their original positions before entering into the contract.
2. Suit for Damages: The aggrieved party can seek monetary compensation for any losses or harm suffered as a result of the breach. The damages awarded aim to put the non-breaching party in the position they would have been in if the breach had not occurred. There are different types of damages that can be claimed, such as compensatory damages, consequential damages, and punitive damages.
3. Suit for Specific Performance: In certain situations, the court may order the breaching party to fulfill their contractual obligations as agreed. This remedy is typically sought when the subject matter of the contract is unique or when monetary compensation would not adequately remedy the harm caused by the breach. Specific performance is most commonly used in contracts involving real estate or unique items.
Therefore, the correct answer is (D) All of the above, as all three remedies (suit for recession, suit for damages, and suit for specific performance) are available to the aggrieved party in case of a breach of contract.
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In case of a breach of contract the remedy available to the aggrieved party is:a)Suit for recessionb)Suit for damagesc)Suit for specific performanced)All of the above.Correct answer is option 'D'. Can you explain this answer?
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