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What are the remedies for breach of contracts under Indian Contracts Act, 1872 ?

Remedies available to the party suffering loss under the Act are following:

a. Compensation of loss and damage for breach of contracts.

b. Compensation of breach of contract where penalty is stipulated.

c. Right for rescission of contract

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  3. What is compensation of breach of contract under Indian Contracts Act, 1872 where penalty is stipulated for?
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