BUSINESS ADMINISTRATION
BUSINESS LAW
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Detailed explanation-1: -Section 73 clearly states that the party who has suffered, since the other party has broken promises, can claim compensation for loss or damages caused to them in the normal course of business. Such damages will not be payable if the loss is abnormal in nature, i.e. not in the ordinary course of business.
Detailed explanation-2: -As a result, the default remedy available for a breach of contract is monetary damages. Generally, these damages are limited to what is listed in the contract and, unlike damages from tort cases, courts do not award punitive damages for breaches of contract.
Detailed explanation-3: -If you have a contract with another person or entity and they fail to fulfill the contract as agreed, you can file a lawsuit to recover any damages that you lost as a result.
Detailed explanation-4: -Remedies for Breach of Conditions Breach of conditions usually allow a party to sue for damages as well as rescission/termination of the contract.