11.2 Remedies — Meaning and Types

The menu's architecture: the self-help remedies (the party's own powers, no court needed); the rescission (the contract's unwinding); the judicial remedies (the court's orders: damages, restitution, specific performance, injunction, quantum meruit); and arbitration as the dispute- resolution route where the remedies are adjudged (Unit 17's full treatment). (i) Self-help remedies Sell: the unpaid seller's self-help — the goods' resale after the notice (Unit 15's unpaid-seller rights); the deteriorating goods' emergency sales; the secured creditor's realization (the bandhak machinery); Forfeiture or use of security or bank guarantee: the earnest-and-security deposits' forfeiture on defined breaches — the forfeiture's judicial review (the penalty-vs-genuine- preestimate line: the forfeiture beyond the reasonable estimate refused); the security interests' enforcement; the bank guarantee's independent life — the guarantee's call-and-payment (the autonomy principle: the guarantee paid regardless of the underlying dispute; the fraud- and-forgery exceptions only — the Nepali courts' bank-guarantee injunction jurisprudence's narrow-fraud rule); Recovery from advance or deposit: the advance's retention-and-adjustment (the recovery- plus-damages on the counterparty's breach); the deposit's forfeiture where the depositor defaults. (ii) Rescission The contract's unwinding (the voidable-and-remedial face of Unit 5): the vitiators' rescission (coercion, fraud, undue influence, misrepresentation); the breach-and-failure-of-consideration rescission. The mechanics: the election-and-notice; the restitution's restoration (the parties restored to the pre-contract positions — the Code's restoration provisions). The bars: affirmation; lapse of time; the innocent third-party's rights;…