Section 74 Indian Contract Act, Liquidated Damages, Penalty Clause
Section 74 Indian Contract Act, Liquidated Damages, Penalty Clause Author: Roshan KumarICFAI University, Dehradun —————————————————————————————————————- Quick Takeaways Abstract Section 74 of the Indian Contract Act guides courts when a contract is breached and a pre-decided amount is mentioned. Earlier, courts strictly divided such clauses into liquidated damages and penalties, which created confusion about whether actual […]
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