Mitigation of Losses Under Contracts Law

13 Pages Posted: 21 Jun 2012 Last revised: 15 Aug 2012

Date Written: June 20, 2012

Abstract

A party who relies on a breach of contract must take such measures as are reasonable in the circumstances to mitigate the loss, including loss of profit,, resulting from the breach. If he fails to take such measures, the party in breach may claim a reduction in the damages in the amount by which the loss should have been mitigated.

Keywords: mitigation of losses, section 73 Indian contract act, abhishek kumar bansal, abhishek bansal, duty in case of breach of contract, damages on repudiation of the contract before due date

Suggested Citation

Bansal, Abhishek and Dutta, Manzra, Mitigation of Losses Under Contracts Law (June 20, 2012). Available at SSRN: https://ssrn.com/abstract=2087974 or http://dx.doi.org/10.2139/ssrn.2087974

Abhishek Bansal (Contact Author)

AKBA ( email )

187 Sector 49
Chandigarh, 160047
India

Manzra Dutta

affiliation not provided to SSRN ( email )

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