Indian Telephone Industry Ltd. vs Madan Lal on 11 November, 2002
21. When contract subsists, though performance was put to end to by completion, repudiation, frustration, breach or otherwise, disputes arising out of the obligation under the contract will have to be set out. For that purpose, the only course will be submission to the decision of the person or persons whom they have chosen by the contract and in that eventuality only such persons shall have jurisdiction in such matters. By putting an end to performance alone, the contract shall not come to an end. It will survive till the obligations are settled and the parties are relieved out of the contract. Even after completion of work, the question may arise whether contract still subsists or stood perished and as to whether the arbitration clause still survives. Such issues are to be determined in the facts and circumstances of each case as no strait-jacket formula can be laid down which may have universal application. Even in a case, a party issues certificate that it has received the amount in full and final settlement and nothing survives, still question may remain open regarding the genuineness of such document, conditions under which certificate had been issued - D&C Builders Ltd. v. Rees[1996]2 QB617; and Cochin Refineries Ltd. v. C.S. Co., Engg. Contractors AIR 1989 Ker. 72.