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TypeBare Act JurisdictionCentral Government

Indian Contract Act, 1872 Section 62

Effect of Novation, Rescission, and Alteration of Contract

~1 min read
https://sooperkanoon.com/act/14382

Bare act section · Research

About this section

Indian Contract Act, 1872 Section 62 is part of Indian Contract Act, 1872 - Effect of Novation, Rescission, and Alteration of Contract. Read the section text below and explore Indian court judgments that cite it.

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Section Text

If the parties to a contract agree to substitute a new contract for it, or to rescind or alter it, the original contract need not be performed.

Illustrations

(a) A owes money to B under a contract. It is agreed between A, B and C that B shall thenceforth accept C as his debtor, instead of A. The old debt of A to B is at an end, and a new debt from C to B has been contracted.

(b) A owes B 10,000 rupees. A enters into an arrangement with B, and gives B a mortgage of his (A's) estate for 5,000 rupees in place of the debt of 10,000 rupees. This is a new contract and extinguishes the old.

(c) A owes B 1,000 rupees under a contract. B owes C 1,000 rupees. B orders A to credit C with 1,000 rupees in his books, but C does not assent to the arrangement. B still owes C 1,000 rupees, and no new contract has been entered into.

Frequently asked questions

What does Indian Contract Act, 1872 Section 62 provide?

Section Section 62 of the Indian Contract Act, 1872 (Effect of Novation, Rescission, and Alteration of Contract) is reproduced on this page as part of the Indian Contract Act, 1872. Lawyers and researchers use it to read the statutory wording before checking how courts have applied this section in reported judgments.

How do I find judgments on Indian Contract Act, 1872 Section 62?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Indian Contract Act, 1872 Section 62. Advanced act search can narrow results by court, year, or additional act filters.

Is the section text on SooperKanoon official?

SooperKanoon hosts bare act text for research and quick reference. For filings or compliance in Central, confirm the wording against the official state gazette or authorized publication.

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