CONTRACT ACT 1872 PDF
THE CONTRACT ACT, CONTENTS. SECTIONS. PRELIMINARY. 1. Short title. Extent Commencement. Enactments repealed. 2. Interpretation-clause. The Indian Contract Act, (Act no. 9 of ). CONTENTS. Preamble. Preliminary. 1. Short title. 2. Interpretation clause. Chapter I Of the communication . group of people to whom she gave green smoothies once a day while they stayed on their regular diet. Many of them showe.
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1. THE CONTRACT ACT, (ACT NO. IX OF ). [ 25th April, ]. Preamble. Whereas it is expedient to define and amend certain parts of the law. Definition: According to section 2(h) of the Indian contract act, “An agreement enforceable by law is a contract. According to SALMOND, a contract is “An. 1 The Indian Contract Act, UNIT– I: BACKGROUND Learning objectives After studying this unit, you would be able to - ♢ Understand the meaning of the.
Section 46 - Time for performance of promise, where no application is to be made and no time is specified Where, by the contract, a promisor is to perform his promise without application by the promisee, and no time for performance is specified, the engagement must be performed within a reasonable time. The question "what is a reasonable time" is, in each particular case, a question of fact.
Section 47 - Time and place for performance of promise, where time is specified and no application to be made When promise is to be performed on a certain day, and the promisor has undertaken to perform it without application by the promisee, the promisor may perform it at any time during the usual hours of business on such day and at the place at which the promise ought to be performed.
Illustration A promises to deliver goods at B's warehouse on the first January. On that day A brings the goods to B's warehouse, but after the usual hour for closing it, and they are not received. A has not performed his promise. Section 48 - Application for performance on certain day to be at proper time and place When a promise is to be performed on a certain day, and the promisor has not undertaken to perform it without application by the promisee, it is the duty of the promisee to apply for performance at a proper place and within the usual hours of business.
The question "what is a proper time and place" is, in each particular case, a question of fact. Section 49 - Place for the performance of promise, where no application to be made and no place fixed for performance When a promise is to be performed without application by the promisee, and no place is fixed for the performance of it, it is the duty of the promisor to apply to the promisee to appoint a reasonable place for the performance of the promise, and to perform it at such place.
BARE ACT- The Indian Contract Act, 1872 [PDF]
Illustration A undertakes to deliver a thousand maunds of jute to B on a fixed day. A must apply to B to appoint a reasonable place for the purpose of receiving it, and must deliver it to him at such place.
Section 50 - Performance in manner or at time prescribed or sanctioned by promisee The performance of any promise may be made in any manner, or at any time which the promisee prescribes or sanctions. Illustrations a B owes A 2, rupees. A desires B to pay the amount to A's account with C, a banker. B, who also banks with C, orders the amount to be transferred from his account to A's credit, and this is done by C. Afterwards, and before A knows of the transfer, C fails.
indian contract act, 1872
There has been a good payment by B. A and B settle an account by setting off one item against another, and B pays A the balance found to be due from him upon such settlement.
This amounts to a payment by A and B, respectively, of the sums which they owed to each other. B accepts some of A's goods in reduction of the debt. The delivery of goods operates as a part payment. The debt is discharged as soon as B puts into the post a letter containing the note duly addressed to A.
Section 51 - Promisor not bound to perform, unless reciprocal promisee ready and willing to perform When a contract consists of reciprocal promises to be simultaneously performed, no promisor need perform his promise unless the promisee is ready and willing to perform his reciprocal promise.
A need not deliver the goods, unless B is ready and willing to pay for the goods on delivery. B need not pay for the goods, unless A is ready and willing to deliver them on payment. A need not deliver, unless B is ready and willing to pay the first instalment on delivery. B need not that pay the first instalment, unless A is ready and willing to deliver the goods on payment of the first instalment.
Section 52 - Order of performance of reciprocal promises Where the order in which reciprocal promises are to be performed is expressly fixed by the contract, they shall be performed in that order; and, where the order is not expressly fixed by the contract, they shall be performed in that order which the nature of the transaction requires. Illustrations a A and B contract that A shall build a house for B at a fixed price. A's promise to build the house must be performed before B's promise to pay for it.
A's promise need not be performed until the security is given, for the nature of the transaction requires that A should have security before he delivers up his stock. Section 53 - Liability of party preventing event on which the contract is to take effect When a contract contains reciprocal promises, and one party to the contract prevents the other from performing his promise, the contract becomes voidable at the option of the party so prevented: and he is entitled to compensation 1 from the other party for any loss which he may sustain in consequence of the non-performance of the contract.
Illustration A and B contract that B shall execute certain work for A for a thousand rupees. B is ready and willing to execute the work accordingly, but A prevents him from doing so. The contract is voidable at the option of B; and, if he elects to rescind it, he is entitled to recover from A compensation for any loss which he has incurred by its non-performance.
See section 73, infra.
Section 54 - Effect of default as to that promise which should be first performed, in contract consisting of reciprocal promises When a contract consists of reciprocal promises, such that one them cannot be performed, or that its performance cannot be claimed till the other has been performed, and the promisor of the promise last mentioned fails to perform it, such promisor cannot claim the performance of the reciprocal promise, and must make compensation to the other party to the contract for any loss which such other party may sustain by the non-performance of the contract.
Illustrations a A hires B's ship to take in and convey, from Calcutta to the Mauritius, a cargo to be provided by A, B receiving a certain freight for its conveyance. A does not provide any cargo for the ship. A cannot claim the performance of B's promise, and must make compensation to B for the loss which B sustains by the non-performance of the contract. B refuses to furnish any scaffolding or timber, and the work cannot be executed.
A need not execute the work, and B is bound to make compensation to A for any loss caused to him by the non-performance of the contract. B does not pay within the week. A's promise to deliver need not be performed, and B must make compensation.
A does not deliver according to his promise. B's promise to pay need not be performed, and A must make compensation. Section 55 - Effect of failure to perform at a fixed time, in contract in which time is essential When a party to a contract promises to do a certain thing at or before a specified time, or certain things at or before specified times, and fails to do any such thing at or before the specified time, the contract, or so much of it as has not been performed, becomes voidable at the option of the promisee, if the intention of the parties was that time should be of the essence of the contract.
Effect of such failure when time is not essential If it was not the intention of the parties that time should be of the essence of the contract, the contract does not become voidable by the failure to do such thing at or before the specified time; but the promisee is entitled to compensation from the promisor for any loss occasioned to him by such failure.
Effect of acceptance of performance at time other than that agreed upon. Section 56 - Agreement to do impossible act An agreement to do an act impossible in itself is void.
Contract to do act afterwards becoming impossible or unlawful. Illustrations a A agrees with B to discover treasure by magic. The agreement is void. Before the time fixed for the marriage, A goes mad. It can be noted that all contracts are agreements, but not all agreements are contracts. The person making the 'proposal' or 'offer' is called the 'promisor' or 'offeror', the person to whom the offer is made is called the 'offeree'.
Acceptance Acceptance means the expression of assent to whom the proposal is made in a Contract.
Acceptance may be expressed either by conduct or by implied circumstances. However, silence cannot be prescribed as a mode of acceptance. Consideration means 'something in return'. When agent cannot delegate Representation of principal by sub-agent properly appointed Agent's responsibility for sub-agent Sub-agent's responsibility Agent's responsibility for sub-agent appointed without authority Relation between principal and person duly appointed by agent to act in business of agency Agent's duty in naming such person Ratification Right of person as to acts done for him without his authority.
Effect of ratification Ratification may be expressed or implied Knowledge requisite for valid ratification Effect of ratifying unauthorized act forming part of a transaction Ratification of unauthorized act cannot injure third person Revocation of Authority Termination of agency where agent has an interest in subject-matter When principal may revoke agent's authority Revocation where authority has been partly exercised Compensation for revocation by principal or renunciation by agent Notice of revocation or renunciation Revocation and renunciation may be expressed or implied When termination of agent's authority takes effect as to agent, and as to third persons Agent's duty on termination of agency by principal's death or insanity Termination of sub-agent's authority Agent's Duty to Principal Agent's duty in conducting principal's business Skill and diligence required from agent Agent's accounts Agent's duty to communicate with principal Right of principal when agent deals, on his own account, in business of agency without principal's consent Principal's right to benefit gained by agent dealing on his own account in business of agency Agent's right of retainer out of sums received on principal's account Agent's duty to pay sums received for principal When agent's remuneration becomes due Agent not entitled to remuneration for business mis-conducted Agent to be indemnified against consequences of lawful acts Agent to be indemnified against consequences of acts done in good faith Non-liability of employer of agent to do a criminal act Effect of default as to that promise which should be first performed.
B need not pay for the goods. Section 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 under such agreement or contract is bound to restore it, or to make compensation for it to the person from whom he received it.
The nature of A's trade affords an indication of the meaning of the words. Lancashire and Yorkshire Railway Company 50 LJCP , the plaintiff bought velvet with a view to making it into caps for sale during spring. A cannot revoke this authority nor can it be terminated by his insanity or death.
The seller is under no duty to reveal the defects of his goods to the buyer, subject to certain conditions. Thus, in the above exceptions the court will enforce the agreements. When the rights and liabilities under a contract vests in the same person, the other parties are discharged.
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