CONTRACT BARE ACT PDF
Agreements in restraint of legal proceedings void Saving of contract to refer to arbitration Contract to do act afterwards becoming impossible or unlawful. The Indian Contract Act, (Act no. 9 of ). CONTENTS. Preamble. Preliminary. 1. Short title. 2. Interpretation clause. Chapter I Of the communication . This Act may be called the Indian Contract Act,.. section Ill of the Indian Evidenc. The Indian Contract Act, enforceable by law becomes void when it.
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Updated Bare Act of Indian Contract Act in a systematic way with direct Here is a beautiful made PDF for Indian Contract Act that you can download. An Act to define and amend the law relating to the sale of goods The unrepealed provisions of the Indian Contract Act, , save insofar as they are. Full text containing the act, Indian Contract Act, , with all the sections, schedules, short title, enactment date, and footnotes.
C is unable to pay anything, and A is compelled to pay the whole. A is entitled to receive 1, rupees from B.
C fails to pay. A and B are compelled to pay the whole sum. They are entitled to recover it from C. I for "one".
Section 44 - Effect of release of one joint promisor Where two or more persons have made a joint promise, a release of one of such joint promisors by the promisee does not discharge the other joint promisor or joint promisors; neither does it free the joint promisors so released from responsibility to the other joint promisor or joint promisors.
Public Related Laws
See section Section 45 - Devolution of joint rights When a person has made a promise to two or more persons jointly, then, unless a contrary intention appears from the contract, the right to claim performance rests, as between him and them, with them during their joint lives, and, after the death of any of them, with the representative of such deceased person jointly with the survivor or survivors, and, after the death of the last survivor, with the representatives of all jointly. B dies.
The right to claim performance rests with B's representative jointly with C during C's life, and after the death of C with the representatives of B and C jointly. For an exception to section 45 in case of Government securities, see the Public Debt Act, 18 of , section 8. 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. 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. 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.
Contract bare act pdf
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.
Indian Contract Act,
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. The contract becomes void. A's Government afterwards declares war against the country in which the port is situated. The contract becomes void when war is declared. On several occasions A is too ill to act.
The contract to act on those occasions becomes void. See section 65, infra. Section 57 - Reciprocal promise to do things legal, and also other things illegal Where persons reciprocally promise, firstly, to do certain things which are legal, and, secondly, under specified circumstances to do certain other things which are illegal, the first set of promises is a contract, but the second is a void agreement.
Illustration A and B agree that A shall sell B a house for 10, rupees, but that, if B uses it as a gambling house, he shall pay A 50, rupees for it. The first, set of reciprocal promises, namely, to sell the house and to pay 10, rupees for it, is a contract. The second set is for an unlawful object, namely, that B may use the house as a gambling house, and is a void agreement. Section 58 - Alternative promise, one branch being illegal In the case of an alternative promise, one branch of which is legal and the other illegal, the legal branch alone can be enforced.
Illustration A and B agree that A shall pay B 1, rupees for which B shall afterwards deliver to A either rice or smuggled opium. This is a valid contract to deliver rice, and a void agreement as to the opium.
Section 59 - Application of payment where debt to be discharged is indicated Where a debtor, owing several distinct debts to one person, makes a payment to him, either with express intimation, or under circumstances implying that the payment is to be applied to the discharge of some particular debt, the payment, if accepted, must be applied accordingly. Illustrations a A owes B, among other debts, 1, rupees upon a promissory note which falls due on the first June.
Consideration in the Indian Contract Act,
He owes B no other debt of that amount. According to section 2 d of the Indian Contract Act, "When at the desire of the promisor, the promisee or any other person has done or abstained from doing, or does or abstains from doing, or promises to do or abstain from doing something, such act or abstinence is called a consideration for the promisee. It says, "Every person is competent to contract, who is of the age of majority, according to law, which he is subject to also who is of sound mind and who is not disqualified from contracting by any law to which he is the subject" Disqualifications An incorporated company cannot be part of contract.
A minor is also incompetent to enter into a contract subject to certain exceptions Mental in capacity. Section 12 says "A person is said to be of sound mind for the purpose of making a contract, if at the time when he makes it, he is capable of understanding it and of forming a rational judgement to its effect upon his interests" A person who suffers from insanity at intervals can enter into a contract, when he is of sound mind.
A person who suffers from insanity occasionally cannot enter into a contract, when he is of unsound mind. Quasi-Contracts Under special circumstances, obligations resembling those created by a contract are imposed by law although there is no contract between the parties. Such contracts are called Quasi-Contracts.
Sections 68 to 72 deal with Quasi-Contractual Obligations. Claim for Necessaries supplied to a person incapable of contracting or on his account Reimbursement of person paying money due by another, in payment of which he is interested Obligation of person enjoying benefit of non-gratuitous act Responsibility of finder of goods Liability of person to whom money is paid, or thing delivered by mistake or under coercion.
Discharge of Contract A Contract may be discharged in any of the following ways Discharge by Performance.Where he stands in a fiduciary relationship to other, For example, the relationship of Solicitor with his client, spiritual advisor and devotee. Agency[ edit ] In law, the relationship that exists when one person or party the principal engages another the agent to act for him, e. One is, agreements restraining enforcement of rights and the other deals with agreements curtailing period of limitation.
As per section , the revocation or renunciation of an agency may be made expressly or impliedly by conduct. See section 41, supra.