Held:

(a) Sec.74 is applicable to forfeiture of deposits.

(b) Actual loss whether necessary: Words only dispense with proof of “actual loss or damage.” and he section does not justify the award of compensation, in consequence of a breach when no legal injury has resulted. if no loss is proved to have been suffered, Sec. 73 and 74 are not attracted.

(c) Sec. 74 The cases in which it is not possible to prove the monetary value of the loss and therefore, the value fixed by the parties, if it be regarded as a genuine pre- estimate (not in the nature of penalty), may be taken as the reasonable measure of compensation. But where the loss in terms of money can be determined, the party claiming compensation must prove the loss suffered by him.

(d) If the deposit was named as earnest the court allowed it to be forfeited, but not otherwise, thus defeating the purport of the bargain that the parties had voluntarily made.