Section 133 of ICA explains discharge of surety by variance. 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.
Tag: Indian Contract Act 1872
When consent is not said to be free (Article 15-22, ICA 1872)
INTRODUCTION Contracts are an inevitable and indispensable part of our lives whether it be small contracts like buying a chocolate from a grocery store or big contracts like buying and selling properties and huge machineries. All of these contracts are governed by the Indian contract act 1872. There are few…
A note on Doctrine of Frustration
Introduction As a general principle, contracting parties want to fulfill their obligations, and in the event of a breach, the party violating is obligated to compensate for the same. However, Section 56 of the Indian Contract Act of 1872 makes an exemption to this provision. Section 56 discusses the doctrine…
Bengal Coal Co. Ltd. vs The Union Of India: Case Analysis
Equivalent citations: AIR 1971 Cal 219 Bench: S Chakravarti, S Datta FACTS In this case, the plaintiff supplied a certain quantity of coal to the Union Of India. The plaintiff claimed a sum of Rs. 10,901alleged to be due for the supply of coal together with a sum of Rs. 6540…