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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 INDIAN CONTRACT ACT, 1872 (PAPER – 16 Q. NO. 526 TO 560)

THE HIMACHAL PRADESH URBAN RENT CONTROL ACT, 1987 (PAPER 01 Q. NO. 1 TO 30)

THE HIMACHAL PRADESH URBAN RENT CONTROL ACT, 1987 (PAPER 02 Q. NO. 31 TO 60)

THE TRANSFER OF PROPERTY ACT, 1882 (PAPER 05 Q.NO. 161 TO 200)

THE MAHARASHTRA RENT CONTROL ACT, 1999 (PAPER 01 Q. NO. 1 TO 15)

HIMACHAL PARDESH LOWER JUDICIAL SERVICES 2007-2

THE CONSTITUTION OF INDIA, 1949 (PAPER – 01 Q. NO. 1 TO 35)

THE COMMERCIAL COURTS ACT, 2015 (PAPER 01 Q. NO. 1 TO 12)

THE HIMACHAL PRADESH URBAN RENT CONTROL ACT, 1987 (PAPER 03 Q. NO. 61 TO 90)

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

THE CONSTITUTION OF INDIA, 1949 (PAPER – 09 Q. NO. 281 TO 315)

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

AIBE XVII 2023 (BCI-FEB-2023-SET-A) (ALL INDIA BAR EXAM 2023)

AIBE-XV-2021-I (BCI-JAN-2021-SET-C) (ALL INDIA BAR EXAM 2021-I)

THE NEGOTIABLE INSTRUMENTS ACT, 1881 (PAPER 03 Q. NO. 81 TO 120)

MADHYA PRADESH LOWER JUDICIAL SERVICES 2019(2)

THE CODE OF CRIMINAL PROCEDURE, 1973 (PAPER – 13 Q. NO. 481 TO 520)

MADHYA PRADESH LOWER JUDICIAL SERVICES 2019(1)

UTTAR PARDESH LOWER JUDICIAL SERVICES G.K. EXAM 2018

THE LAW OF ADMINISTRATION (PAPER 01 Q. NO. 1 TO 30)

THE INDIAN EVIDENCE ACT, 1872 (PAPER – 03 Q. NO. 81 TO 120)

THE INDIAN EVIDENCE ACT, 1872 (PAPER – 02 Q. NO. 41 TO 80)

THE WILD LIFE PROTECTION ACT, 1972 (PAPER 01 Q. NO. 1 TO 25)

THE CODE OF CIVIL PROCEDURE, 1908 (PAPER – 17 Q. NO. 641 TO 680)

THE ARBITRATION AND CONCILIATION ACT, 1996 (PAPER 04 Q. NO. 91 TO 116)

THE INDIAN CONTRACT ACT, 1872 (PAPER – 12 Q. NO. 386 TO 420)

GUJRAT LOWER JUDICIAL SERVICES 2019

THE CODE OF CIVIL PROCEDURE, 1908 (PAPER – 18 Q. NO. 681 TO 720)

THE CODE OF CRIMINAL PROCEDURE, 1973 (PAPER – 19 Q. NO. 721 TO 760)

RAJASTHAN LOWER JUDICIAL SERVICES 2019

THE ADVOCATES ACT, 1961 (PAPER 01 Q. NO. 1 TO 10)

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

CLAT 2022

AIBE-XIII-2018-II (BCI-DEC-2018-SET-A) (ALL INDIA BAR EXAM 2018-II)

THE CODE OF CIVIL PROCEDURE, 1908 (PAPER – 16 Q. NO. 601 TO 640)

THE LAW OF TORTS (PAPER 04 Q. NO. 136 TO 180)