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[Cites 0, Cited by 0] [Section 16(3)] [Section 16] [Entire Act]

Union of India - Subsection

Section 16(3)(d) in The Indian Contract Act, 1872

(d)A applies to a banker for a loan at a time when there is stringency in the money market. The banker declines to make the loan except at an unusually high rate of interest. A accepts the loan on these terms. This is a transaction in the ordinary course of business, and the contract is not induced by undue influence.