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Which one of the following relates to warranty?  1. It is of vital importance for completion of contract 2. If there is breach, the aggrieved party can repudiate the contract 3. It is essential to the main purpose of the contract 4. In case of breach, the aggrieved party can claim only damages 
A contract is said to be discharged by rescission: A. When terms of a contract are altered B. When a party makes novation of a contract C. When an aggrieved party exercises his option to avoid the contract D. When a party to a contract waives his rights under the contract E. Where none of the parties has performed its part for a long time and no other party has objected against it Choose the correct answer from the options given below:
A is a stipulation essential to main purpose of the contract and the breach of which gives rise to a right to treat the contract as repudiated:
Consider the following statements with regard to the consequences of breach of contract.
1. In case of breach of contract, the party who suffers is entitled to receive compensation for any loss or damage caused to him thereby, which the parties knew, when they made the contract, to be likely to result from the breach of it.
2. Such compensation is to be given for any remote and indirect loss or damage sustained by reason of the breach.
Which of the statements given above is/are correct?
A is a stipulation collateral to main purpose of the contract and the breach of which gives rise to a right to claim for damages but not to a right to reject goods and treat the contract as repudiated:
Consider the following objectives of the law relating to damages:
1. Enrich the party who has sustained loss by breach of contract.
2. Punish the party who has committed the breach of contract.
3. Put the party, who sustained the loss, in the same position as if the contract has been performed.
Which of the statements given below is/are correct?
"When contract is broken then can an aggrieved party sue only for losses or damages which naturally arose out of the breach as also for other losses or damages which are result of breach of contract". In view of this statement, which of the following is correct?
Consider the following statements:
(1) In case of breach of contract generally damages are awarded.
(2) In case of breach of contract, remedy of specific performance of contract is always given.
(3) In case of breach of contract, fine is also imposed along with the award of damages.
(4) In exceptional cases where damages are not adequate compensation, remedy of specific performance can be given.
Which of the statements given above are correct?
Which pair is correct for 'Types of Political Party - Name of Political Party'? I. National Party - Communist Party of India II. State Party - Aam Aadmi Party III. State Party - All India Trinamool Congress IV. National Party - Indian National Congress
In case of breach of contract, the party who suffers by such breach is not entitled to receive, from the party causing such breach, which of the following compensations for any loss or damage caused to him thereby: