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[Cites 0, Cited by 0] [Section 73] [Entire Act]

Union of India - Subsection

Section 73(g) in The Indian Contract Act, 1872

(g)A contracts to let his ship to B for a year, from the first of January, for a certain price. Freights rise, and, on the first of January, the hire obtainable for the ship is higher than the contract price. A breaks his promise. He must pay to B, by way of compensation, a stun equal to the difference between the contract price and the price for which B could hire a similar ship for a year on and from the first of January.