Principle: When there is breach of contract, the resulting damages will have to be paid by the party breaching the contract to the aggrieved party. However, the parties are free to agree as to damages payable in advance in case there is a breach of contract. Facts: Mr Ramesh entered into a contract with Mr Ramakrishna for selling his green Alto Car for 3 lakhs. Mr Ramakrishna was to pay 3 lakhs on or before 25th April, 2005 and take possession of the car. The party failing to honour the contract has to pay 40,000 as damages to the other party. Mr Ramakrishna has not performed his part of the contract. Mr Ramesh is claiming 40,000. (NLU DELHI 2011)

2150+ Legal Awareness And Legal Reasoning Questions.

The Legal Aptitude or Legal Reasoning section in law entrance exams that holds maximum weightage and demands candidates to possess good knowledge of fundamentals. This section is used to test your legal awareness, analytical skills and problem-solving ability.