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Question

If the compensation to be paid on breach of contract is the genuine pre-estimate of the prospective damages, it is known as

If the compensation to be paid on breach of contract is the genuine pre-estimate of the prospective damages, it is known as

.

Option A: Liquidated damages

Option B: Un-liquidated damages

Option C: Special damages

Option D: Penalty

Correct Answer

Option: a

Explanation

Liquidated damages as per the provision of section 73 and section 74 of Indian Contract Act

Sample Mock Tests for Practice

THE SPECIFIC RELIEF ACT, 1963 (PAPER – 02 Q. NO. 36 TO 70)

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THE CONSTITUTION OF INDIA, 1949 (PAPER – 13 Q. NO. 421 TO 455)

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THE ADMINISTRATIVE TRIBUNALS ACT, 1985 (PAPER-01 Q. NO. 1 TO 21)

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THE HINDU MARRIAGE ACT, 1955 (PAPER -3 Q. NO. 51 TO 75)

THE CODE OF CRIMINAL PROCEDURE, 1973 (PAPER – 02 Q. NO. 41 TO 80)

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THE COPYRIGHT ACT, 1957 (PAPER 01 Q. NO. 1 TO 7)

THE CODE OF CIVIL PROCEDURE, 1908 (PAPER – 01 Q. NO. 1 TO 40)

THE CHHATTISGARH EXCISE ACT, 1915 (PAPER 01 Q. NO. 1 TO 8)

THE HIMACHAL PRADESH EXCISE ACT, 2011 (PAPER 01 Q. NO. 1 TO 16)

THE INDIAN EVIDENCE ACT, 1872 (PAPER – 17 Q. NO. 641 TO 680)

THE INDIAN CONTRACT ACT, 1872 (PAPER – 07 Q. NO. 211 TO 245)

THE INDIAN CONTRACT ACT, 1872 (PAPER – 03 Q. NO. 71 TO 105)

THE COMPANIES ACT, 1956 (PAPER 01 Q. NO. 1 TO 19)

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THE CODE OF CIVIL PROCEDURE, 1908 (PAPER – 13 Q. NO. 481 TO 520)

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THE CHHATTISGARH LAND REVENUE CODE, 1959 (PAPER 01 Q. NO. 1 TO 11)

THE HINDU MINORITY AND GUARDIANSHIP ACT, 1956 (PAPER -01 Q. NO. 1 TO 14)

THE INDIAN EVIDENCE ACT, 1872 (PAPER – 11 Q. NO. 401 TO 440)

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THE INDIAN CONTRACT ACT, 1872 (PAPER – 01 Q. NO. 1 TO 35)

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THE HINDU MARRIAGE ACT, 1955 (PAPER NO.: 04 Q. 76 TO 100)