Bare Act Search Results

Indian Contract Act, 1872 Section 43

Title: Any One of Joint Promisors May Be Compelled to Perform

State: Central

Year: 1872

.....D the sum of 3,000 rupees. C is compelled to pay the whole. A is insolvent, but his assets are sufficient to pay one-half of his debts. C is entitled to receive 500 rupees from A's estate, and 1,250 rupees from B. (c) A, B and C are under a joint promise to pay D 3,000 rupees. C is unable to pay anything, and A is compelled to pay the whole. A is entitled to receive 1,500 rupees from B. (d) A, B and C are under a joint promise to pay D 3,000 rupees, A and B being only sureties for C. C fails to pay. A and B are compelled to pay the whole sum. They are entitled to recover it from C. ______________________ 1. Substituted by Act 12 of 1891, section 2 and Schedule II Pt. I for "one".

Indian Contract Act, 1872 Section 44

Title: Effect of Release of One Joint Promisor

State: Central

Year: 1872

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.1 ______________________ 1 . See section 138. infra.

Indian Contract Act, 1872 Section 67

Title: Effect of Neglect of Promisee to Afford Promisor Reasonable Facilities for Performance

State: Central

Year: 1872

If any promisee neglects or refuses to afford the promisor reasonable facilities for the performance of his promise, the promisor is excused by such neglect or refusal as to any non-performance caused thereby. Illustration A contracts with B to repair B's house. B neglects or refuses to point out to A the places in which his house requires repair. A is excused for the non-performance of the contract if it is caused by such neglect or refusal.

Indian Contract Act, 1872 Section 51

Title: Promisor Not Bound to Perform, Unless Reciprocal Promisee Ready and Willing to Perform

State: Central

Year: 1872

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. Illustrations (a) A and B contract that A shall deliver goods to B to be paid for by B on delivery. 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. (b) A and B contract that A shall deliver goods to B at a price to be paid by instalments, the first instalment to be paid on delivery. 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.

Contract Act, 1872 Complete Act

State: Central

Year: 1872

..... (3) by the failure of the acceptor to fulfil a condition precedent to acceptance; or (4) by the death or insanity of the proposer, if the fact of the death or insanity comes to the knowledge of the acceptor before acceptance. SECTION 07: ACCEPTANCE MUST BE ABSOLUTE In order to convert a proposal into a promise, the acceptance must- (1) be absolute and unqualified ; (2) be expressed in some usual and reasonable manner, unless the proposal prescribes the manner in which it is to be accepted. If the proposal prescribes a manner in which it is to be accepted, and the acceptance is not made in such a manner, the proposer may, within a reasonable time after the acceptance is communicated to him, insist that his proposal shall be accepted in the prescribed mariner, and not otherwise; but if he fails to do so, he accepts the acceptance. SECTION 08: ACCEPTANCE BY PERFORMING CONDITIONS, OR RECEIVING CONSIDERATION. Performance of the conditions of a proposal, or the acceptance of any consideration for a reciprocal promise which may be offered with a proposal, is an acceptance of the proposal. SECTION 09: PROMISES, EXPRESS OR IMPLIED. Insofar as the proposal or.....

Indian Contract Act, 1872 Chapter 4

Title: Of the Performance of Contracts

State: Central

Year: 1872

.....must be performed within a reasonable time. Explanation.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. Explanation. The question "what is a proper time and place" is, in.....

Indian Contract Act, 1872 Chapter 8

Title: Of Indemnity and Guarantee

State: Central

Year: 1872

.....such third person may have been aware of its existence. Illustration A and B make a joint and several promissory note to C. A makes it, in fact, as surety for B, and C knows this at the time when the note is made. The fact that A, to the knowledge of C, made the note as surety for B, is no answer to a suit by C against A upon the note. Section 133 - Discharge of surety by variance in terms of contract Any variance, made without the surety's consent, in the terms of the contract between the principal 1[debtor] and the creditor, discharges the surety as to transactions subsequent to the variance. Illustrations (a) A becomes surety to C for B's conduct as a manager in C's bank. Afterwards B and C contract, without A's consent, that B's salary shall be raised, and that he shall become liable for one- fourth of the losses on overdrafts. B allows a customer to over-draw, and the bank loses a sum of money. A is discharged from his suretyship by the variance made without his consent, and is not liable to make good this loss. (b) A guarantees C against the misconduct of B in an office to which B is appointed by C, and of which the duties are defined by an Act of.....

Indian Contract Act, 1872 Section 125

Title: Rights of Indemnity- Holder when Sued

State: Central

Year: 1872

The promisee in a contract of indemnity, acting within the scope of his authority, is entitled to recover from the promisor (1) all damages which he may be compelled to pay in any suit in respect of any matter to which the promise to indemnify applies; (2) all costs which he may be compelled to pay in any such suit if, in bringing or defending it, he did not contravene the orders of the promisor, and acted as it would have been prudent for him to act in the absence of any contract of indemnity, or if the promisor authorized him to bring or defend the suit; (3) all sums which he may have paid under the terms of any compromise of any such suit, if the compromise was not contrary to the orders of the promisor, and was one which it would have been prudent for the promisee to make in the absence of any contract of indemnity, or if the promisor authorized him to compromise the suit.

Indian Contract Act, 1872 Chapter 2

Title: Of Contracts, Voidable Contracts and Void Agreements

State: Central

Year: 1872

.....by his agent1 , with intent to deceive another party thereto or his agent, or to induce him to enter into the contract : (1) the suggestion, as a fact, of that which is not true, by one who does not believe it to be true; (2) the active concealment of a fact by one having knowledge or belief of the fact; (3) a promise made without any intention of performing it; (4) any other act fitted to deceive; (5) any such act or omission as the law specially declares to be fraudulent. Explanation.-Mere silence as to facts likely to affect the willingness of a person to enter into a contract is not fraud, unless the circumstances of the case are such that, regard being had to them, it is the duty of the person keeping silence to speak2 , or unless his silence is, in itself, equivalent to speech. Illustrations (a) A sells, by auction, to B, a horse which A knows to be unsound. A says nothing to B about the horse's unsoundness. This is not fraud in A. (b) B is A's daughter and has just come of age. Here, the relation between the parties would make it A's duty to tell B if the horse is unsound. (c) B says to A-"If you do not deny it, I shall assume that the horse is sound.".....

Indian Contract Act, 1872 Section 25

Title: Agreement Without Consideration, Void, Unless It is in Writing and Registered, or is a Promise to Compensate for Something Done, or is a Promise to Pay a Debt Barred by Limitation Law

State: Central

Year: 1872

.....pay A's expenses in so doing. This is a contract. (e) A owes B Rs. 1,000, but the debt is barred by the Limitation Act. A signs a written promise to pay B Rs. 500 on account of the debt. This is a contract. (f) A agrees to sell a horse worth Rs. 1,000 for Rs. 10. A's consent to the agreement was freely given. The agreement is a contract notwithstanding the inadequacy of the consideration. (g) A agrees to sell a horse worth Rs. 1,000 for Rs. 10. A denies that his consent to the agreement was freely given. The inadequacy of the consideration is a fact which the Court should take into account in considering whether or not A's consent was freely given. ______________________ 1. Substituted by Act 12 of 1891, section 2 and Schedule II Pt. I, for "assurances".