30 April 2020

01 May 2020 (Friday)

Abhishek Malhotra Atmaja Tripathy

External Law of Damages

The presentation focused to give a broad overview of law of damages, with primary focus on the scheme of compensation under the Indian Contract Act, 1872 (ICA). The presentation covered the following aspects: (a)Certain introductory concepts governing the meaning of 'damge', 'damages' and 'compensation' along with the three principles behind grant of damages, (b) Types of Damages, (c) A detailed discussion on the scheme of compensation under Section 73 and 74 of the ICA (d) Essential conditions/ factors for consideration by court while granting damages including: breach of contract, proof of damage, causation and remoteness of damages, (d) Different scenarios where damages may be granted such as: consequential loss, loss of profits, non- pecuniary losses (e) Measure of damages and limitation period for filing a suit for damages. The presentation further went on to discuss the exclusionary or expressive clauses in contracts stipulating for liquidated damages or conditions for grant of damages. Lastly, the presentation concluded with a discussion on damages for breach of particular contracts namely, sale of goods contract, employment contract, indemnity contract, EPC/ turnkey project contract and cases of intellectual property infringements.

01.05.2020 https://web.microsoftstream.com/video/ad4a8f21-6064-40a2-a3a0-963a187327e2