Compensation for Breach of Contract Quiz

What must be taken into account when estimating the loss or damage arising from a breach of contract?

Under Section 74, what is a party entitled to receive if a contract stipulates a sum to be paid in case of breach?

What does Section 75 of the Arbitration and Conciliation Act 1996 state regarding rightful rescission of a contract?

What does the Arbitration and Conciliation Act 1996 emphasize as a preferred option for settling commercial disputes globally?

When did the Arbitration and Conciliation Act 1996 come into effect?

When was the Arbitration and Conciliation Act 1996 amended?

What is one key feature of the amendment act introduced by Act 33 of 2019?

What does the term 'Arbitration' mean according to the text?

How long is the time limit fixed for filing written claim and defense before an arbitral tribunal?

Under Section 8 of the ARBITRATION AND CONCILIATION ACT 1996, what must a judicial authority do when an arbitration agreement exists?

What is required for an arbitration agreement to be valid according to the text?

What is one aspect of the composition of an arbitral tribunal according to Sections 10 to 12 of ARBITRATION AND CONCILIATION ACT 1996?

What is the role of the conciliator?

What is the status and effect of a settlement agreement according to the text?

When is a settlement agreement considered final and binding?

What happens if parties reach an agreement on a settlement of the dispute?

Are conciliators bound by the Code of Civil Procedure?

What is the status of proposals made by the conciliator for a settlement?

What is one key feature of the Arbitration and Conciliation Act 1996 amendment introduced by Act 33 of 2019?

Under the Arbitration and Conciliation Act 1996, what is the time restriction for arbitral tribunals to make their award in international commercial arbitrations?

According to Section 7 of the Arbitration and Conciliation Act 1996, what is required for an arbitration agreement to be valid?

What does Section 8 of the Arbitration and Conciliation Act 1996 state about referring parties to arbitration when there is an arbitration agreement?

What must a party do if there is an arbitration agreement but the same issue is pending before a judicial authority?

What is the role of the conciliator according to Sec-67 of the ARBITRATION AND CONCILIATION ACT 1996?

What status and effect does a settlement agreement have according to Sec-74 of the ARBITRATION AND CONCILIATION ACT 1996?

Under Sec-73, what happens when parties sign a settlement agreement?

What is the similarity between a settlement agreement and an arbitral award under Sec-74 of the ARBITRATION AND CONCILIATION ACT 1996?

According to Sec-66, what legal provisions bind the conciliator in conciliation proceedings?

What is the entitlement of a party who rightfully rescinds a contract according to the ARBITRATION AND CONCILIATION ACT 1996?

What is the status of a settlement agreement as per the ARBITRATION AND CONCILIATION ACT 1996?

When estimating loss or damage from a breach of contract, what must be considered according to the text?

Under what conditions is a complaining party entitled to receive reasonable compensation under Section 74 of the ARBITRATION AND CONCILIATION ACT 1996?

What is one key feature of arbitration as emphasized in the ARBITRATION AND CONCILIATION ACT 1996?

How can conciliation proceedings be terminated according to the text?

When can conciliation proceedings be terminated by a written declaration of the conciliator according to the text?

What is a key aspect of terminating conciliation according to the ARBITRATION AND CONCILIATION ACT 1996?

What action should parties avoid during conciliation proceedings as per the text?

How does a misplaced comma in a contract impact its meaning according to the text?

What is the status of an arbitration agreement in case of the death of a party according to the text?

How can conciliation proceedings commence according to Section 62 of the Arbitration and Conciliation Act 1996?

Under Section 40 of the Act, what happens to the mandate of an arbitrator in case of the death of a party who appointed them?

What is the consequence if a party initiating conciliation does not receive a reply within thirty days, as per Section 62 of the Act?

What is the effect of an order passed in appeal under Section 3 of the Act on further appeals?

What happens if the parties settle a dispute during arbitral proceedings according to the text?

What is the status and effect of an Arbitration award on agreed terms as per the text?

What should be included in an Arbitration award unless it is based on agreed terms according to the text?

What happens if an arbitral award is not made within six months according to the text?

What may an arbitrator do during arbitral proceedings to encourage settlement according to the text?

What is the significance of Section 19 of the Arbitration and Conciliation Act 1996 in terms of the rules of procedure?

Under Section 20 of the Arbitration and Conciliation Act 1996, how is the place of arbitration determined?

What is the requirement under Section 23 for respondents in an arbitral proceeding?

What does Section 18 of the Arbitration and Conciliation Act 1996 emphasize regarding the treatment of parties?

What happens if parties do not agree on a place for arbitration according to Section 20?

In terms of the procedure to be followed during arbitral proceedings, what happens if there is no agreement between parties under Section 19?

What is the role of parties in determining the rules of procedure according to Section 19?

Under Section 20, what freedom do parties have regarding the place of arbitration?

'What is required from claimants according to Section 23 during an arbitral proceeding?'