Voidable Contract - Bare Acts

Indian Contract Act, 1872 Section 64

Title: Consequences of Rescission of Voidable Contract

State: Central

Year: 1872

When a person at whose option a contract is voidable rescinds it, the other party thereto need not perform any promise therein contained in which he is promisor. The party rescinding a voidable contract shall, if he have received any benefit thereunder from another party to such contract, restore such benefit, so far as may be, to the person from whom it was received.1 _______________________ 1 . See section 75, infra.

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Indian Contract Act, 1872 Section 66

Title: Mode of Communicating or Revoking Rescission of Voidable Contract

State: Central

Year: 1872

The rescission of a voidable contract may be communicated or revoked in the same manner, and subject to the same rules, as apply to the communication or revocation of a proposal.1 ______________________ 1. See section 3 and 5, supra.

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Indian Contract Act, 1872 Complete Act

Title: Indian Contract Act, 1872

State: Central

Year: 1872

.....Section19A - Power to set aside contract induced by undue influence Section20 - Agreement void where both parties are under mistake as to matter of fact Section21 - Effect of mistakes as to law Section22 - Contract caused by mistake of one party as to matter of fact Section23 - What considerations and objects are lawful and what not Section24 - Agreements void, if considerations and objects unlawful in part Section25 - 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 Section26 - Agreement in restraint of marriage void Section27 - Agreement in restraint of trade void Section28 - Agreements in restraint of legal proceedings void Section29 - Agreements void for uncertainty Section30 - Agreements by way of wager void Chapter 3 Section31 - Contingent contract defined Section32 - Enforcement of contracts contingent on an event happening Section33 - Enforcement of contracts contingent on an event not happening Section34 - When event on which contract is contingent to be deemed impossible, if it is the future conduct of a living person .....

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Indian Contract Act, 1872 Section 178A

Title: Pledge by Person in Possession Under Voidable Contract

State: Central

Year: 1872

When the pawnor has obtained possession of the goods pledged by him under a contract voidable under section 19 or section 19A, but the contract has not been rescinded at the time of the pledge, the pawnee acquires a good title to the goods, provided he acts in good faith and without notice of the pawnor's defect of title. ]

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Indian Contract Act, 1872 Section 55

Title: Effect of Failure to Perform at a Fixed Time, in Contract in Which Time is Essential

State: Central

Year: 1872

.....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. - If, in case of a contract voidable on account of the promisor's failure to perform his promise at the time agreed, the promisee accepts performance of such promise at any time other than that agreed, the promisee cannot claim compensation for any loss occasioned by the non-performance of the promise at the time agreed, unless, at the time of such acceptance he gives notice to the promisor of his intention to do so.1 ______________________ 1. Cf. section 62 and 63, infra.

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Indian Contract Act, 1872 Section 53

Title: Liability of Party Preventing Event on Which the Contract is to Take Effect

State: Central

Year: 1872

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 compensation1from 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. ______________________ 1. See section 73, infra.

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Indian Contract Act, 1872 Section 19A

Title: Power to Set Aside Contract Induced by Undue Influence

State: Central

Year: 1872

1 [Power to set aside contract induced by undue influence When consent to an agreement is caused by undue influence, the agreement is a contract voidable at the option of the by party whose consent was so caused. Any such contract may be set aside either absolutely or, if the party who was entitled to avoid it has received any benefit thereunder, upon such terms and conditions as to the Court may seem just. Illustrations ( a) A's son has forged B's name to a promissory note. B, under threat of prosecuting A's son, obtains a bond from A for the amount of the forged note. If B sues on this bond, the Court may set the bond aside. (b) A, a money-lender, advances Rs.100 to B, an agriculturist, and, by undue influence, induces B to execute a bond for Rs. 200 with interest at 6 percent per month. The Court may set the bond aside, ordering B to repay the Rs.100 with such interest as may seem just.] ______________________ 1. Inserted by Act 6 of 1899, section 3.

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Indian Contract Act, 1872 Section 22

Title: Contract Caused by Mistake of One Party as to Matter of Fact

State: Central

Year: 1872

A contract is not voidable merely because it was caused by one of the parties to it being under a mistake as to a matter of fact.

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Indian Contract Act, 1872 Chapter 6

Title: Of the Consequences of Breach of Contract

State: Central

Year: 1872

.....caused to B by the closing of the mill. (q) A contracts to sell and deliver to B, on the first of January, certain cloth which B intends to manufacture into caps of a particular kind, for which there is no demand, except at that season. The cloth is not delivered till after the appointed time, and too late to be used that year in making caps. B is entitled to receive from A, by way of compensation, the difference between the contract price of the cloth and its market price at the time of delivery, but not the profits which he expected to obtain by making caps, nor the expenses which he has been put to in making preparation for the manufacture. (r) A, a ship-owner, contracts with B to convey him from Calcutta to Sydney in A's ship, sailing on the first of January, and B pays to A, by way of deposit, one-half of his passage-money. The ship does not sail on the first of January, and B, after being in consequence detained in Calcutta for some time and thereby put to some expense, proceeds to Sydney in another vessel, and, in consequence, arriving too late in Sydney, loses a sum of money. A is liable to repay to B his deposit, with interest, and the expense to which he is put.....

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Indian Contract Act, 1872 Section 73

Title: Compensation for Loss or Damage Caused by Breach of Contract

State: Central

Year: 1872

.....caused to B by the closing of the mill. (q) A contracts to sell and deliver to B, on the first of January, certain cloth which B intends to manufacture into caps of a particular kind, for which there is no demand, except at that season. The cloth is not delivered till after the appointed time, and too late to be used that year in making caps. B is entitled to receive from A, by way of compensation, the difference between the contract price of the cloth and its market price at the time of delivery, but not the profits which he expected to obtain by making caps, nor the expenses which he has been put to in making preparation for the manufacture. (r) A, a ship-owner, contracts with B to convey him from Calcutta to Sydney in A's ship, sailing on the first of January, and B pays to A, by way of deposit, one-half of his passage-money. The ship does not sail on the first of January, and B, after being in consequence detained in Calcutta for some time and thereby put to some expense, proceeds to Sydney in another vessel, and, in consequence, arriving too late in Sydney, loses a sum of money. A is liable to repay to B his deposit, with interest, and the expense to which he is put.....

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