Section 73

This section provides that when a contract has been broken, the party who suffers by such breach is entitled to receive compensation for any loss or damage caused thereby. The actual statutory language is: "When a contract has been broken, the party who suffers by such breach is entitled to receive, from the party who has broken the contract, compensation for any loss or damage caused to him thereby, which naturally arose in the usual course of things from such breach, or which the parties knew when they made the contract to be likely to result from the breach of it." The section aims to put the injured party in the position they would have been in had the contract been performed. The Supreme Court has interpreted this section to mean that the compensation must be reasonable and must not be remote or speculative.