BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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permitting the injured party to recover money or property given to the defaulting party
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usually available when one party has delivered something of value to the other in an attempt to contract
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both a and b
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none of these
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Detailed explanation-1: -According to Section 65 which deals with the doctrine of restitution, when an agreement is determined to be void, or when a contract becomes void, any person who has obtained any benefit under such agreement or contract is obligated to restore the same or compensate the person from whom he received it.
Detailed explanation-2: -: the giving of something back to its rightful owner or the giving of something of equal value (as for loss or damage)
Detailed explanation-3: -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-4: -Monetary awards (called “damages”), specific performance, and restitution are the three principle remedies.