Indian Contract Act, 1872, Section 29 -- Suit for partition - During pendency of suit plaintiff executed undertaking qua plaint schedule item No.6, in favour of defendant whereby plaintiff agreed to be satisfied with whatever amount defendant may give him at the time of sale of such item of property - Terms are vague and uncertain - Period within which property is to be..........
Negotiable Instruments Act, 1881, Section 138, Indian Contract Act, 1872, Section 25(3) -- Dishonour of cheque - Time barred debt - When cheque issued towards time barred debt is dishonoured liability u/s 138 of NI Act squarely arises...........
Power of Attorney Act, 1882, Section 2, Indian Contract Act, 1872, Section 201 -- Power of attorney - Death of executor of power of attorney - Power of attorney comes to an end automatically in term of S.201 of Act of 1872...........
Indian Contract Act, 1872, Section 132 -- Liability of surety - Surety can exercise his right to ask the creditor to proceed against principal debtor in first instance before he is asked to pay the same, subject to his undertaking to indemnify the creditor for the loss etc., but not after creditor obtained a decree against both the principal debtor and surety...........
Indian Contract Act, 1872, Section 28 -- Contract - Jurisdiction clause - S.28 of the Act does not bar exclusive jurisdiction clauses - What has been barred is absolute restriction of any party from approaching a legal forum - Right to legal adjudication cannot be taken away from any party through contract but can be relegated to a set of Courts for ease of parties...........
Indian Contract Act, 1872, Section 55 -- Time essence of contract - In a contract of sale of immovable property, if time is specified for payment of sale price but not regard to execution of sale deed, time will become essence of contract only with reference to payment of sale price but not with regard to execution of sale deed...........
Indian Contract Act, 1872, Section 74 -- Breach of contract - Forfeiture of earnest money - If forfeiture of earnest money under a contract is reasonable, then it does not fall within S.74 of the Act, inasmuch as, such a forfeiture does not amount to imposing a penalty - However, if forfeiture is of the nature of penalty, then S.74 of the Act would be applicable - Where..........
Indian Contract Act, 1872, Section 2(d) -- Consideration - Consideration need not always be in a monetary terms - It can be in other forms as well...........
Indian Contract Act, 1872, Section 65 -- Restitution - Possession delivered to proposed vendee under agreement to sell - Defendant claims that plaintiff lost his title over the suit land and contract stands frustrated - Defendant being beneficiary under the void contract needs to restore back the advantage that he received under the void agreement as per the mandate of..........
Power of Attorney Act, 1882, Section 2, Indian Contract Act, 1872, Section 201 -- Power of attorney - Executed by several persons - Death of one principal - If interest of deceased principal is separable from that of surviving principal's, then power would not survive in respect of deceased principal...........
