Remedies for Breach of Contract | Indian Contract Act 1872 | CA Foundation
Channel: Money Minded India
Date: 2023-02-23

This video talks about the following topics
The Latin maxim ‘Ubi Jus ibi remedium’
Means ‘where there is a right there is a remedy’
A contract being a fountainhead of correlative set of rights and 
obligations for the parties would be of no value if there is no 
remedy to enforce them thereunder 
Parties to breach 
The party committing the breach is called ‘guilty party’ and
The other party is called injured party or aggrieved party
In case of breach the aggrieved party would have one or more of 
the following rights but not all of the following rights: Suit for 
rescission
• Suit for Damages
• Suit for Quantum Merit
• Suit for Specific Performance
• Suit for Injunction
1. Suit for Rescission 
Rescission means Cancellation
By the breach of the contract, the contract is discharged 
automatically but sometimes the party may have to approach the 
court formallt for the rescission in order to be discharged from 
his own obligation
2. Suit for Damages 
The term “Damages” means that financial compensation 
collectable by the defaulting party to the affected party for the 


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