Commercial law must be certain and predictable

I take example of a clause in a contract about liquidated damages to demonstrate how the many judgments interpreting section 74 of the Indian Contract Act have made this branch of law uncertain and unpredictable for contracting parties.

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This is my speech at the inaugural session of a Seminar organised by the National School of India University, Bengaluru : “Strengthening Legal Provisions for the Enforcement of Contracts”.