NMIMS – Business Law – What is Breach of Contract? Describe the manner in which of breach of contracts occurs and the remedies available for addressing such breaches?

What is Breach of Contract

Business Law

 

Q1. What is Breach of Contract? Describe the manner in which of breach of contracts occurs and the remedies available for addressing such breaches?

Q2. A obtains 5 different loans from B in the following manner

Month Amount Interest
November 2014 20,000 20%
December 2014 40,000 5%
February 2015 10,000 10%
March 2015 10,000 15%
Total 8000  

A decides to make repay only a sum Rs. 50,000/- in April, 2015. Please explain taking the above example as how the debts shall be appropriated as per Clayton’s Rule of Appropriation of Payment under the Contract Act.

Q3. Right to Information is one of finest gems institutionalizing and cherishing Democracy in India. Please explain the statement highlighting the features of Right to Information Act and give at least 2 examples of how Right to Information has brought transparency and accountability?

 

What is Breach of Contract

 

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What is Breach of Contract