Court : Mumbai
Reported in : (2000)102BOMLR320
..... and respondent no. 1, third party i.e. kashid had failed to get reconveyance, she was entitled to get specific performance. section 32 of the indian contract act provides that contingent contracts to do or not to do anything if an uncertain future event happens cannot be enforced by law unless and until that event has happened. on that ..... event happening however the contingent contract can be enforced. this is what is sought by the appellant herein.5. there is also some discussion as to whether the disputed transaction was in any ..... the discrepancies with respect to the dates in the pleadings but that apart he dismissed the appeal principally on three counts viz. (1) that the kind of contingent contract which was sought to be enforced was not enforceable in the facts and circumstances of the present case, (ii) that in the earlier suit filed by kashid ..... way a benami transaction. now, section 4 of the benami transaction (prohibition) act, 1988, nullifies the defences based on right in respect of the property held benami. however sub-section (3)(b) of the said section 4 provides that where ..... pass appropriate order.9. the decree will remain stayed for a period of eight weeks.10. drawing up of certified copy expedited.11. parties to act on an ordinary copy of this judgment. .....Tag this Judgment!
Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT
Reported in : (2004)1CompLJ258SAT
..... of the other 56% shareholders, that that under new york law & under section 31 & 32 of the indian contract act, a conditional / contingent agreement could not be enforced or performed unless the condition had been fulfilled / the contingency had occurred. the contingent agreement to acquire the 44% shares of the target company would mature into a legally enforceable contractual obligation only ..... eyewear business. he had submitted that under new york law and under section 31 and 32 of the indian contract act, a contingent/conditional agreement could not be enforced or performed unless the condition had been fulfilled and the contingency had occurred. in support of the contention that the shares of the target company were to be acquired ..... contingency occurs or the condition has been fulfilled. moreover regulation 22 (1) expressly stipulates that a public announcement of offer ..... binding agreement on the part of the acquirer. regulations 2 (1)(b) & 14 do not refer to "entering to a contingent agreement for acquisition of shares" or "conditionally deciding to acquire shares" under both new york law & the indian contract act, such a contingent agreement or a conditional decision cannot be enforced, and creates no obligations until and unless the .....Tag this Judgment!
Court : Delhi
Reported in : ILR1992Delhi540
..... , collateral to such contract, does or does not happen. in this respect, it may be noted that the contract between the parties contains reciprocal promises and ..... together. the scope of inquiry under these issues is whether the agreement is contingent, incomplete or inchoate or whether it is in violation of the injunction in suit no. 405172. sectional of the indian contract act defines a contingent contract which is one to do or not to do something, if some event ..... collateral to the contract. the illustration to section 31 of the indian contract act exemplifies the purpose which can be called to be collateral to a contract. it is as follows, 'a contracts to pay b rs. 10,000.00 if b's house is burnt. this is a contingent contract.' from this illustration ..... , it is clear that the burning of the house of b had absolutely no bearing upon the contract ..... invalid or unlawful consideration involved in this agreement between the parties on which account it is hit by sections 23 and 24 of the indian contract act. both the issues are answered accordingly. issue no. 19(49) it is argued under this issue on behalf of the defendants that .....Tag this Judgment!
Court : Chennai
Reported in : 2008BusLR908; 2009(1)CTC227; (2008)8MLJ261
..... the plaintiff that since there was no underlying exposure, the contract was, per se, speculative and a wagering contract, hit by section 30 of the contract act. therefore, it is necessary to analyse whether the contract in question is hit by section 23 and/or section 30 of the contract act. 54. though the indian contract act, 1872 defines a 'contingent contract' under section 31, it does not define what a ..... 'wagering contract' is. but the consequences of a wagering contract are indicated in section 30 ..... supported by an underlying exposure and hence violative of the master circulars and the regulations issued by the reserve bank of india and consequently hit by section 23 of the indian contract act, 1872; (c) that the defendant-bank failed to make a study of the risk management policy of the plaintiff-company and the chief financial officer-cum-company secretary ..... ; (c) that the transactions in derivatives, have the sanction of law and hence not hit either by section 23 or by section 30 of the indian contract act, 1872; and (d) that the agreement was executed on behalf of the plaintiff-company by a person who was duly authorised by a resolution of the board and .....Tag this Judgment!
Court : Supreme Court of India
..... of the indian contract act, 1872 deals with contingent contracts. contingent contract has been defined in section 31 and method of enforcement is stated in section 32 which reads as under:"31. "contingent contract" defined.-- a "contingent contract" is a contract to do or not to do something, if some event, collateral to such contract, does or does not happen.32. enforcement of contracts contingent on an event happening.-- contingent contracts to do or ..... willingness all along and the same was rightly accepted by the trial court and confirmed by the high court.ii) the contract in question is not a contingent contract in terms of sections 31 and 32 of the indian contract act, 1872.iii) in view of the fact that the plaintiff has prayed for larger relief and the trial court has confined ..... ex. a-3, the conditions incorporated in ex. a-2 need not be complied with and it cannot be contended that the contract was a contingent contract and unless and until a letter of confirmation issued by the indian bank, the same is not enforceable. as rightly pointed out by mr r. f nariman, the vendors have agreed to sell ..... mou (ex. a-2), ms. nalini chidambaram, learned senior counsel for the appellants heavily contended that inasmuch as the contract was depending upon uncertain events of the indian bank, agreeing for ots, the contract entered is contingent depending on the move of the indian bank. according to her, inasmuch as various clauses insists certain impossible conditions at the hands of the .....Tag this Judgment!
Court : Mumbai Nagpur
..... section 31 of the indian contract act, 1872, defines the contingent contract and the same is reproduced below chapter iii : of contingent contracts "section 31. "contingent contract" defined.- a "contingent contract" is a contract to do or not to do something, if some event, collateral to such contract, does or does not happen." section 32 of the said act, deals with the enforcement of the contracts contingent on an event happening ..... law laid down by the apex court, section 126 of the indian contract act, 1872, regarding contract of guarantee needs to be seen. the said provision of section 126 is, therefore, reproduced below-- section 126. 'contract of guarantee', 'surety', 'principal debtor' and 'creditor'- "a 'contract of guarantee' is a contract to perform the promise, or discharge the liability, of a ..... as per section 32 of the contract act. 23) the question is whether, in fact there is such compliance of the conditions ..... unless there is a failure/negligence in performing the terms and conditions of contract, the amount which becomes due and payable by the respondent no.1 cannot be assessed and claimed. hence, it is a 'contingent contract' as defined under section 31 of the contract act and it becomes enforceable only upon happening of the event specified therein, .....Tag this Judgment!
Court : Mumbai
Reported in : AIR1954Bom478; (1954)56BOMLR838; ILR1955Bom11
..... , argues mr. gauba, it would only be in the manner provided by clause (6) of art. 19.section 31 of the indian contract act recognises contingent contracts as valid, and the contract of the client with mr. gauba is no more than such a contingent contract. all that he has done is to undertake the work of the collection of a debt on percentage basis, and if an ..... of the indian contract act could not have been considered by the learned judges in this case. thus it would be clear that the reported decisions of the indian high courts which have been cited at the bar are all against mr. gauba's contention.18. mr. gauba has, however, referred us to someamerican decisions in support of his argumentthat a contingent contract for the payment ..... and unfettered. it is no doubt wide in its realm; but the exercise of this freedom must always be subject to the considerations mentioned in s. 23 of the indian contract act,if a contract is opposed to public policy, it would be treated as invalid by courts in india, and this conclusion cannot be challenged on the ground that it involves an encroachment ..... the context of administration of justice does not present any difficulty. all agreements that obstruct or affect administration of justice would be treated as invalid under s. 23 of the indian contract act. the agreement between a lawyer and his client is directly concerned with the administration of justice. it is an agreement between a lawyer, who is an officer of the court .....Tag this Judgment!
Court : Supreme Court of India
Reported in : AIR1957SC669; 32ITR82(SC); 1SCR1002
..... . mr. k.p. khaitan, learned counsel for the respondent, disputes the correctness of this contention. he argues that whatever the position under the english law, a contract of insurance is under the indian contract act merely a contingent contract, that until the event specified in the policy happens, there is no enforceable liability, and that accordingly unexpired risks in pending policies cannot be treated as present ..... for unexpired risks would be sums in respect of accruing liabilities. 18. that a contract of insurance is a contingent contract does not admit of argument. that is so under section 31 of the indian contract act, and that is also the law in england where it is termed 'conditional contract'. (vide pollock on contracts, 13th edn., p. 222). this, however, is not material for the purpose of ..... the present discussion which is how such contracts are to be dealt with in assessing the .....Tag this Judgment!
Court : Guwahati
Reported in : 153CompCas579(Gauhati)
..... a concluded contract. the principal contract, in a contingent contract, cannot be specifically performed unless the contingency arises and, therefore, it can be said that ..... done or not be done, and embedded, in this principal contract, is the collateral contract of contingency. sections 32, 33, 34 are various contingencies contemplated in the indian contract act, 1872.194. so far as the performance of contract is concerned, the courts can direct specific performance only in ..... performance of the contract. section 31 of the indian contract act, 1872, states that a 'contingent contract' is a contract to do or not to do something if some event, collateral to such contract, does or does not happen. in 'contingent contract', the performance of contract is, thus, dependent on the happening or not happening of some collateral event. thus, a 'contingent contract' contains, within itself, two contracts, firstly, tire principal act agreed to be .....Tag this Judgment!
Court : Andhra Pradesh
Reported in : 2008(6)ALD630
..... agreed upon, is a different thing. thus, it cannot be said that the renewal clause contained in the lease deed is in the nature of a contingent contract in terms of section 31 of the indian contract act. even otherwise, the plea of the petitioner-first defendant that the contemplated future event not having taken place and fixing rental and period of renewal by mutual ..... contract is not enforceable under section 32 of the contract act and the suit is not maintainable.55. section 31 of the indian contract act defines, 'contingent contract as a contract to do or not to do something, if some event, collateral to such contract does or does not happen.' section 32 states that 'contingent contracts to do or not to do anything if ..... result in dismissal, but there is no statutory bar prohibiting institution of the suit, contained either in specific relief act or indian contract act.54. learned counsel for the petitioner-first defendant would contend that the renewal clause being in the nature of the contingent contract and the future event of fixing rental and period of renewal upon mutual agreement not having taken place, the said .....Tag this Judgment!