The Sale of Goods Act, 1930 provides a remedy for breach of contract called:a.Rescissionb.Specific performancec.Quantum meruitd.Damages
Question
The Sale of Goods Act, 1930 provides a remedy for breach of contract called:a.Rescissionb.Specific performancec.Quantum meruitd.Damages
Solution
The Sale of Goods Act, 1930 provides several remedies for breach of contract. These include:
a. Rescission: This is the cancellation of the contract, which puts the parties back to the position they were in before the contract was made.
b. Specific Performance: This is a court order requiring the party who breached the contract to fulfill their obligations as per the terms of the contract.
c. Quantum Meruit: This is a reasonable compensation for work done or services rendered when the amount due is not stipulated in a legally enforceable agreement.
d. Damages: This is a sum of money claimed or awarded in compensation for a loss or an injury.
Therefore, all the options (Rescission, Specific Performance, Quantum Meruit, Damages) provided are remedies for breach of contract under The Sale of Goods Act, 1930.
Similar Questions
As per the Sale of Goods Act , Discuss the Remedies available to buyers in case of breach of contract.
The remedies open to a person suffering from breach of contract are*Suit for damagesSuit for specific performanceSuit for Quantum MerrutAll of the above
The Sale of Goods Act, 1930 applies to the sale of:a.Both tangible and intangible goodsb.Tangible goods onlyc.Intangible goods onlyd.Services
Courts may award damages called quantum meruit, which means a."as much as he deserves."b."something for something."c."to the letter of the law."d."let the buyer beware."
Which of the following is NOT a remedy for a breach of contract?*A) Specific performanceB) Liquidated damagesC) RescissionD) Exemplary damages
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.