Abstract
The Supreme Court judgement, Kailash Nath Associates v. Delhi Development Authority consolidates the law on award of liquidated damages and stipulations on penalties. Contractual damages are to cover losses and not to profit from it or penalise the party in breach. Stipulated amounts in damages or penalties are appraised by the courts and only a reasonable compensation given. Earnest money, and its forfeiture, stood distinct. It could be forfeited without appraisal. The case integrates the different categories and re-states the principles for award of damages.
Additional Information
| Product Type | Case |
|---|---|
| Reference No. | BP0423 |
| Title | Contractual Damages: Kailash Nath Associates v Delhi Development Authority |
| Pages | 11 |
| Published on | Apr 2, 2018 |
| Year of Event | 2015 |
| Authors | Pathak, Akhileshwar; |
| Area | Strategy (STR) |
| Discipline | Public Policy and Law |
| Learning Objective | Award of contractual damages Award of penalties in contracts Forfeiture of earnest money |
| Keywords | Damages; Penalty; Liquidated Damages; Earnest Money; Earnest Deposit |
| Country | India |
| Organization | Supreme Court of India |
| Courses | PGP; PGP-ABM; PGPX; MDP |
| Access | For All |
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