Presentation On Business Law Topic: Remedies for Breach of Contract <ul><li>Group Members: </li></ul><ul><li>B091824 Sajib (Group Leader) </li></ul><ul><li>B091833 Shaon (Designer) </li></ul><ul><li>B091799 Imon </li></ul><ul><li>B091805 Samir </li></ul><ul><li>B091829 Bablu </li></ul>
Way of Contract Discharged <ul><li>Suit for Rescission </li></ul><ul><li>Suit for Damages </li></ul><ul><li>Suit upon Quantum Meruit </li></ul><ul><li>Suit for specific Performance </li></ul><ul><li>Suit for an Injunction </li></ul>The description and Illustration's are described in the next page…… As regards the last two remedies stated above, the law is regulated by the specific relief act, 1963
Suit for Rescission When there is a breach of contract by one party, the other party may rescind the contract and need not perform his part of obligations under the contract and may sit quietly at home if he decides not to take any legal action against the guilty party.
Illustration: 'A' contracts to supply 100kg of tea leaves for tk 8,000 to 'B' on 15 June. If 'A' does not supply the tea leaves on the appointed day, 'B' need not pay the price. 'B' may treat the contract as rescinded and may sit quietly at home. 'B' may also file a ‘suit for rescission’ and claim damages. 100 KG tea leaves A B Breach of contract when ‘A’ don’t supply to ‘B’.
Suit for Damages Damages are a monetary compensation allowed to the injured party for the loss or injury suffered by him as a result of the breach of contract. The fundamental principle underlying damages is not punishment but compensation. There are 4 types of damages; Ordinary, Special, Exemplary & Nominal damages.
Illustration: ‘ A’ contracts to pay a sum of money to ‘B’ on a specified day. ‘A’ does not pay the money on that day. ‘B’, in consequence of not receiving the money on that day, is unable to pay his debts, and is totally ruined. Breach of contract when ‘A’ don’t give money to ‘B’. A B Payable money
Suit Upon Quantum Meruit The third remedy for a breach of contract available to an injured party against the guilty party is to file a suit upon quantum meruit . The phrase quantum meruit literally means “as much as is earned” or “in proportion to the work done.”
Illustration: ‘ A’ engages ‘B’ a contractor, to build a three storied house. After a part is constructed ‘A’ prevents ‘B’ from working any more. ‘B’ the contractor, is entitled to get reasonable compensation for work done under the doctrine of quantum meruit in addition to the damages for breach of contract. Breach of contract when ‘A’ told ‘B’ to stop building. A B Uncompleted building
Suit For specific performance Specific performance means the actual carrying out of the contract as agreed. Under certain circumstances an aggrieved party may file a suit for specific performance, i.e., for a decree by the court directing the defendant to actually perform the promise that he has made. Such a suit may be filed either instead of or in addition to a suit for damages.
Suit for an injunction ‘ Injunction’ is an order of a court restraining a person from doing a particular act. It is a mode of securing the specific performance of the negative terms of the contract. To put it differently, where a party is in breach of negative term of the contract ( i.e., where he is doing something which he promised not to do) the court may, by issuing an injunction, restrain him from doing, what he promised not to do.
Illustration: A agreed to sing at B’s theatre for three months from 1 st April and to sing for no one else during that period. Subsequently she contracted to sing at C’s theatre refuse to sing at B’s theatre. And then that is the breach of contract. Breach of contract when ‘A’ start singing on ‘B’s theatre. Sing a song in theatre A B
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