Court : Mumbai
Decided on : Jul-19-2016
..... that ought to be delivered by the respondent company to the petitioner. if there was no physical delivery required then the same would amount to a wagering contract hit by section 30 of the contract act, 1872; (iii) the claim made in the present petition was nothing but in the nature of damages. this being the case, there was no debt due and ..... 2008 entered into by the respondent company with the petitioner bank is void-ab-initio, illegal and unenforceable as it amounts to a wagering contract , and therefore, hit by the provisions of section 30 of the indian contract act, 1872. 21. the next submission canvassed by mr cama was that the claim made in the present company petition was nothing but in the nature ..... to seek specific performance thereof. an ancillary argument to this is that if no physical delivery was required then the same would amount to wagering contract which would be squarely hit by section 30 of the indian contract act, 1872. 14. i am unable to agree with this submission. it is common knowledge that any derivative transactions, essentially of the nature like in the ..... 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 .....Tag this Judgment!
Court : Chennai
Decided on : Dec-02-2016
..... , this court is also of the view that ex.a2 has the potentiality to satisfy the requirements of the provisions of section 2(b), (e) and (h) of the indian contract act 1872 and therefore, this court does not have any hesitation to endorse the concurrent findings of the courts below to say that the courts below are right in holding that as ..... -2 the respondent is entitled to get the relief of specific performance when the respondent has not complied with the requirement of section 2(b) and (e) of the indian contract act, 1872 ? 2. whether the courts below are right in holding that the veracity of exhibit b-3 to be proved by the 1st appellant when the respondent disputed his signature in ..... performance when the respondent has not complied with the requirement of section 2(b) and (e) of the indian contract act, 1872 ? 36. clauses (b) and (e) of section 2 (interpretation clause) of the indian contract act, 1872 are extracted as under:- 2. interpretation-clause.- in this act the following words and expressions are used in the following senses, unless a contrary intention appears from the context ..... , then, they shall have no effect for the purposes of the said section 53-a. 114. section 53-a of the transfer of property act is extracted as under:- 53 a.part performance where any person contracts to transfer for consideration any immovable property by writing signed by him or on his behalf from which the terms necessary to constitute the transfer .....Tag this Judgment!
Court : Chennai
Decided on : Sep-22-2016
..... because of the appellant and therefore, the award has been rightly passed by awarding reasonable compensation as entitled under sections 73 and 74 of the indian contract act, 1872. 7. section 28 of the arbitration and conciliation act, 1996 reads thus : "rules applicable to substance of dispute - (1) where the place of arbitration is situate in india - (a) in an arbitration other ..... of price of materials and wages attributing delay on the part of the appellant and therefore, the claim is made under sections 73 and 74 of the indian contract act, 1872. 10. the learned arbitrator also considered all the aspects including the contention of the claims that they are entitled under sections 73 and 74 of the indian ..... according to the claimants, the delay is attributable to the appellant and therefore, the claimants are to be compensated for the price increase beyond the original contract period under sections 73 and 74 of the indian contract act, 1872. 3. the sole arbitrator, after considering the voluminous materials placed before him, granted all the claims excepting claim nos. 7 and 9 and rejected ..... contract act, granted the claims. the arbitrator has decided the dispute in accordance with the substantive law namely, the indian contract act, 1872 and therefore, the contention of the appellant about patent illegality is not sustainable. 11. the learned arbitrator gave a .....Tag this Judgment!
Court : Delhi
Decided on : Aug-29-2016
..... carrying on their business or approaching the customers as any such restrictive covenant in the agreements would be void by virtue of section 27 of the indian contract act, 1872. in support of its contention, he relied on the following decisions: (i) the decision of the madras high court in lister technologies private limited v ..... for the employee would in effect work as a covenant in restraint of trade and, therefore, would be void by virtue of section 27 of the indian contract act, 1872. 21. the decision in the case of diljeet titus (supra) is wholly inapplicable in the facts of this case. in that case the issue was ..... krishan murgai: (1981) 2 scc 246, a covenant in restraint of trade, whether partial or not is void by virtue of section 27 of the indian contract act, 1872; the question whether a restriction is reasonable or not is relevant only if the case falls within the exception to section 27. the relevant extract of the ..... said judgement are reproduced below: 26. now, so far as the present case is concerned, the law is to be found in section 27 of the contract act 1872, which reads: 27. agreement in restraint of trade void-every agreement by which any one is restrained from exercising a lawful profession, trade or business of ..... the prohibition. we have nothing to do with the policy of such a law. all we have to do is to take the words of the contract act and put upon the meaning which they appear plainly to bear. this view of the section was expressed by sir richard couch c.j. in .....Tag this Judgment!
Court : Chennai
Decided on : Sep-19-2016
..... 13. considering exs-p3 and p4 series, this court is of the definite view that impleadment of the state government is totally unwarranted and further section 230 of the indian contract act, 1872 is not at all applicable to the facts and circumstances of this case. 14. in the light of the discussion made earlier, it is clear that the argument put forth ..... side of the appellant/defendant is liable to be rejected. 9. in support of the contention put forth on the side of the appellant/defendant, section 233 of the indian contract act, 1872 is relied upon and the same reads as follows: 233. right of person dealing with agent personally liable - in cases where the agent is personally liable, a person dealing ..... relied upon wherein this court has dealt with section 230 of the indian contract act, 1872. section 230 of the indian contract act, 1872 reads as follows: 230. agent cannot personally enforce, nor be bound by, contracts on behalf of principal. - in the absence of any contract to that effect, an agent cannot personally enforce contracts entered into by him on behalf of his principal, nor is he personally ..... bound by them. a mere perusal of the said section would go to show that if any contract .....Tag this Judgment!
Court : Delhi
Decided on : Jul-29-2016
..... in the reply filed to the petitions. 67. in view of submissions of sebi/bse, issuance and allotment of warrants is impossible under law, therefore, section 56 of the indian contract act, 1872 read with clause 17.6 of the spa is triggered and now it is to be decided at this stage as to what extent the petitioners can be secured in ..... filed under section 9 of the act. 68. section 56 of the indian contract act, 1872 reads as follows: 56. agreement to do impossible act. an agreement to do an act impossible in itself is void. an agreement to do an act impossible in itself is void." contract to do act afterwards becoming impossible or unlawful. a contract to do an act which, after the contract is made, becomes impossible, or, ..... the provision of section 43(3) of the companies act, 2013. the contract under these circumstances is to become void. once the contract is void and once the contract is liable to be restored and petitioners are entitled for compensation which were received by the respondents under the contract. 83. section 65 of the indian contract act, 1872 read as under as relied upon by mr.sibal: ..... 65. obligation of person who has received advantage under void agreement, or contract that becomes void when an agreement is discovered to be void, or when a contract becomes void, any person who has received any advantage .....Tag this Judgment!
Court : Kerala
Decided on : Feb-01-2016
..... .0 of the instructions to bidders for revoking or cancelling ext.c1 bid, before the appellant accepting the offer made by them. 18. as per section 4 of the indian contract act, 1872 communication of a proposal is complete when it comes to the knowledge of the person to whom it is made. similarly, the communication of an acceptance is complete as against ..... the parties arises only on such confirmation being given by the higher authority and as such there is no concluded contract till such confirmation or approval by the higher authority. 20. as per section 7 of the indian contract act, 1872 in order to convert a proposal into a promise the acceptance must be absolute and unqualified; be express in the some usual and ..... respondent has to compensate rs.23,20,000/- to the appellant cannot be termed either perverse or patently illegal, warranting an interference under section 34(2) of the act. since there is no contract for payment of interest for damages, the arbitrator has declined interest till the date of claim and also interest pending arbitration proceedings and awarded 8% interest on the ..... circumstances the court below ought not to have interfered with the said award, in exercise of its powers under section 37(2) of the act. further the finding of the court below that there was no concluded contract between the parties and as such the appellant has no right to refer any dispute to the arbitrator and the arbitrator has no jurisdiction .....Tag this Judgment!
Court : Mumbai
Decided on : Jun-28-2016
..... undisputed. in fact, the admission of liability by the respondent company is also with reference to these very same trades. 18. section 176 of the contract act, 1872 deals with the rights of a pawnee where the pawner make default. section 176 reads as under:- 176. pawnee's right where pawnor makes default. ..... are no disputes on facts. the contentions are purely legal. now we would consider the first contention regarding applicability of sec. 176 of the contract act. section 176 provides for pawnee's right where pawnor makes default. it inter alia stipulates that on pawnor making default in payment of the debt ..... agreed to waive notice to them before appropriation of amount by the bank. the provisions of sec. 126, 148 and 172 of the contract act also do not, in any manner, help the respondents in support of their contention that there is a legal obligation on the appellant ..... latter might sustain in the future operation of the cinemas. the company therein had claimed against the petitioning creditors damages for breach of that alleged contract of indemnity. on these facts, the creditors' petition was dismissed. on appeal, lord denning m.r. observed that there had to be a ..... form of cash, the petitioner would immediately, offload all pledged securities lying with them to meet the pay-in obligations pertaining to march and june contracts expiry. this would have entailed sale of several securities including twenty lakh (20,00,000) shares of a company called gitanjali gems limited (hereinafter .....Tag this Judgment!
Court : Delhi
Decided on : Jul-11-2016
..... sum is named in the contract as the amount be paid in case of such breach, or if the contract contains any other stipulation by way of penalty, the party ..... when an amount stipulated in a contract was in a nature of a penalty and not a genuine pre-estimate of damages, loss had to be proved. in support of his submission, he relied upon section 74 of the indian contract act, 1872 which reads as under:- "74. compensation of breach of contract where penalty stipulated for - when a contract has been broken, if a ..... approach the respondent/authorities assuring that the petitioner will perform the contract. dismissed as withdrawn." (emphasis supplied) 23. it is pertinent to mention that on 27th april, 2011 the respondent authority had issued instruction to petitioner's banker forfeiting the bid ..... ." (emphasis supplied) 22. on 28th april, 2011, the petitioner withdrew the aforesaid writ petition with an assurance to the division bench of this court that it would perform the contract. the order dated 28th april, 2011 is reproduced hereinbelow:- "after arguing at length, learned counsel for the petitioner seeks to withdraw the writ petition and the application so as to .....Tag this Judgment!
Court : Delhi
Decided on : Aug-02-2016
..... specified debt, it is not open for the judgment debtor to appropriate the amount deposited towards any other head. he referred to section 59 to 61 of the indian contract act, 1872 (hereafter the contract act ) and submittedthat the principles of appropriation embodied therein are also applicable to part payments made towards a decree. he submitted that in the present case, the railways had ..... he would be entitled on account of such default, by way of elimination of the principal amount due itself, unless, of course, the provisions of section 59 of the indian contract act, 1872, were attracted or there was a separate agreement between the parties in that regard. that is not so in the instant case and, accordingly, the creditor cannot be denied its ..... the opinion that sections 59 and 60, contract act, would be applicable only in pre-decretal stage and not thereafter. post-decretal payments have to be made either in terms of the decree or in accordance with the agreement ..... , jnl would be obliged to apply the payments made by the railways towards the specified heads is also without merit. first and foremost, section 59, 60 and 61 of the contract act has no application to post decretal payments. this was unequivocally held by the supreme court in industrial credit and development syndicate (supra) in the following words :- .....we are of .....Tag this Judgment!