What are the consequences of violation of contractual agreement ????
Answers
Answer:
The article discusses the Consequences of Breach of Contract:
Furthermore, if any breach of contract happens then the affected party shall have the right to claim different types of damages like nominal damage, exemplary damage from the court and court shall award those as per the facts and circumstances of the case.
Explanation:
The common consequence is reduction of the contract price, remedy of the defect, compensation for damage and interest for delay.
It is only possible to rescind the contract when the breach is fundamental.
The parties may also agree on the consequences of the breach of agreement when making a contract or separately.
Under the law, once a contract is breached, the guilty party must remedy the breach.
The primary solutions are damages, specific performance, or contract cancellation and restitution.
Compensatory damages.
The goal with compensatory damages is to make the non-breaching party whole as if the breach never happened.