Chartered Accountancy

CPT Course

Session 1, Section B
Mercantile Law

Lecture 10 Breach of Contract

Quick Revision Notes

1
Anticipatory Breach
When the promisor refuses altogether to perform his promise
and signifies his unwillingness even before the time for
performance has arrived, it is called Anticipatory Breach.
Actual Breach
It is a case of refusal to perform the promise on the scheduled
date. When one of the parties breaks the contract by refusing
to perform his promise, he is said to have committed a breach.

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Liability for Damages

Liability for Special Damages
Liability to pay vindictive or exemplary damages
Liability to pay nominal damages
Damages for deterioration caused by delay

Other Remedies on Breach

1. Rescission of Contract
2. Suit upon Quantam Meruit - Quantam Meruit means
as much as is earned or according to the quantity of
work done.
When a person has begun the work and before he could
complete it, the other party to complete the contract, he can
claim for the work done under the contract.
3. Suit for specific performance
4. Suit for injunction

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