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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.

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Patents Act, 1970 (39 of 1970) Section 68

Title: Assignments, Etc., Not to Be Valid Unless in Writing and Duly Executed

State: Central

Year: 1970

.....embodying all the terms and conditions governing their rights and obligations and the application for registration of such document is filed in the prescribed manner with * [the Controller within six months from the execution of the document or within such further period] not exceeding six months in the aggregate as the Controller on application made in the prescribed manner allows: Provided that the document shall when registered, have effect from the date of its execution. ___________________ * Substituted for "the Controller within six months from the commencement of this Act or the execution of the document, whichever is later or within such further period" by Patents (Amdt) Act, 2002. dated 25.06.2002 w.e.f 20.05.2003.

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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".

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Inchek Tyres Limited and National Rubber Manufacturers Limited Nationalisation Act, 1984 Section 26

Title: Contracts to Cease to Have Effect Unless Ratified by the Central Government or Existing, or New, Government Company

State: Central

Year: 1984

.....that period, ratified, in writing, by the Central Government or the existing, or new, Government company and in ratifying such contract, the Central Government or the existing, or new, Government company may make such alteration or modification therein as it may think fit: Provided that the Central Government or the existing or new, Government company shall not omit to ratify a contract and shall not make any alteration or modification in a contract- (a) unless it is satisfied that such contract is unduly onerous, or has been entered into in bad faith, or is detrimental to the interest of the Central Government or such Government company; and (b) except after giving the parties to the contract a reasonable opportunity of being heard and except after recording in writing its reasons for refusal to ratify the contract or for making any alteration or modification therein.

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Sick Textile Undertakings( Nationalisation) Act, 1974 Section 30

Title: Contracts to Cease to Have Effect Unless Ratified by National Textile Corporation

State: Central

Year: 1974

.....period, ratified, in writing, by the National Textile Corporation and in ratifying such contract the National Textile Corporation may, with the previous approval of the Central Government make such alterations or modifications therein as it may think fit : Provided that the National Textile Corporation shall not omit to ratify a contract, and shall not make any alteration or modification in a contract, unless it is satisfied that such contract is unduly onerous or has been entered into in bad faith or is detrimental to the interest of the sick textile undertaking. (2) The National Textile Corporation shall not omit to ratify a contract, and, shall not make any alteration or modification therein, except after giving to the parties to the contract a reasonable opportunity of being heard and except after recording, in writing, its reasons for refusal to ratify the contract or for making any alteration or modification therein.

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Birds & Company Limited Acquistion & Transfer of Undertakings & Other Properties Act, 1980 Section 24

Title: Contracts to Cease to Have Effect Unless Ratified by the Central Government or Government Company

State: Central

Year: 1980

.....on and from the expiry of a paid of one hundred and eighty days from the appointed day, cease to have effect unless such contract is, before the expiry of that period, ratified, in writing, by the Central Government or Government company, in which such undertakings have been vested under this Act, and in ratifying such contract, the Central Government or Government company may make such alteration or modification therein as it may think fit: Provided that the Central Government or, the Government company shall not omit to ratify a contract and shall not make any alteration or modification therein- ( a ) unless it is satisfied that such contract is unduly onerous, or has been entered into in bad faith, or is detrimental to the interest of the Central Government or, such Government company; and ( b ) except after giving the parties to the contract a reasonable opportunity of being heard and except after recording in writing its reasons for refusal to ratify the contract or for making any alteration or modification therein.

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Ganesh Flour Mills Company Limited (Acquisition and Transfer of Undertakings) Act, 1984 Section 22

Title: Contracts to Cease to Have Effect Unless Ratified by the Central Government or Government Company

State: Central

Year: 1984

.....effect unless such contract is, before the expiry of that period, ratified, in writing by the Central Government or the Government company and in ratifying such contract the Central Government or the Government company may make such alteration or modification therein as it may think fit: Provided that the Central Government or the Government company shall not omit to ratify a contract and shall not make any alteration or modification in a contract-- (a) unless it is satisfied that such contract is unduly onerous or has been entered into in bad faith or is detrimental to the interests of the Central Government or the Government company; and (b) except after giving the parties to the contract a reasonable opportunity of being heard and except after recording in writing its reasons for refusal to ratify the contract or for making any alteration or modification therein.

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Auroville (Emergency Provisions) Act, 1980 [Repealed] Section 12

Title: Contracts, Etc. Cease to Have Effect Unless Ratified by the Central Government

State: Central

Year: 1980

.....the parties to the contract or other arrangement a reasonable opportunity of being heard and except after recording, in writing, its reasons for refusal to ratify the contract or other arrangement or for making any alteration or modification therein. (2) Notwithstanding anything contained in any law for the time being in force, no person in respect of who any contract or other arrangement is terminated, altered or modified under sub-section (1), or who ceases to exercise any powers or hold any office by reason of any provisions contained in sub-section ( 1) of section 4, shall be entitled to claim any compensation for the premature termination of the contract or other arrangement or for any alteration or modification therein or for the loss of his powers or office.

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Assam Sillimanite Limited (Acquisition and Transfer of Refractory Plant) Act, 1976 Section 26

Title: Contracts to Cease to Have Effect Unless Ratified by the Central Government or Government Company

State: Central

Year: 1976

.....may make such alteration or modification therein as it may think fit: Provided that a Government company shall not make any alteration or modification in a contract without the previous approval of the Central Government: Provided further that the Central Government or the Government company shall not omit to ratify a contract, and shall not make any alteration or modification in a contract, unless it is satisfied that such contract is unduly onerous or has been entered into in bad faith or is detrimental to the interests of the Refractory Plant. (2) The Central Government or the Government company shall not omit to ratify a contract, and, shall not make any alteration or modification therein, except after giving to the parties to the contract a reasonable opportunity of being heard and except after recording, in writing, its reasons for refusal to ratify the contract or for making any alteration or modification therein.

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Hooghly Docking and Engineering Company Limited (Acquisition and Transfer of Undertakings) Act, 1984 Section 26

Title: Contracts to Cease to Have Effect Unless Ratified by the Central Government or the Government Company

State: Central

Year: 1984

.....and from the expiry of one hundred and eighty days from the appointed day, cease to have effect unless such contract is, before the expiry of that period, ratified, in writing, by the Central Government or the existing, or new, Government company in which such undertakings have been vested under Act, and in ratifying such contract, the Central Government or the Government company may make such alteration or modification therein as it may think fit: Provided that the Central Government or such Government shall not omit to ratify a contract and shall not make any alteration or modification in a contract- (a) unless it is satisfied that such contract is unduly onerous, or has been entered into in bad faith, or is detrimental to the interest of the Central Government or the Government company; and (b) except after giving the parties to the contract a reasonable opportunity of being heard and except after recording in writing its reasons for refusal to ratify the contract or for making any alteration or modification therein.

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