made, to have the contract rescinded and on such application the court may, by order, rescind the contract either so far as regards the party ... justice of the case may require. (2) Where a contract is rescinded under sub-section (1), the court— (a) shall direct the purchaser
anything contained in sub-section (1), the court may refuse to rescind the contract— (a) where the plaintiff has expressly or impliedly ratified the contract ... contract, acquired rights in good faith without notice and for value; or (d) where only a part of the contract is sought to be rescinded
Section 75 in The Indian Contract Act, 1872
75. Party rightfully rescinding contract, entitled to compensation.—
A person who rightfully rescinds ... contract is entitled to compensation for any damage which he has sustained through the non-fulfilment of the contract. Illustration A, a singer, contracts with
Contract Act -Contract not completed within stipulated
time. No term in contract making time, the essence of
contract-Tests for deciding if time ... parties to be of the essence of the
contract. The letter by which the contract was rescinded
clearly waived the stipulation of 12 months
Indian Trusts Act, 1882
86. Transfer pursuant to rescindable contract.
- Where property is transferred in pursuance of a contract which is liable to rescission
plaintiff as
per the tender conditions of contract work and accordingly the contract
was rescinded and he was informed of the action taken ... contract of the plaintiff is rescinded. Thus, we have to hold
that defendant no.3 rescinded the contract, which order is communicated by
defendant
balance found to be due. Power of Courts to rescind contracts
Presidency-towns Insolvency Act, 1909
65. Power for Court to rescind contract.
- The Court may, on the application of any person who is, as against ... burden of a contract made with the insolvent, make an order rescinding the contract on such terms as to payment by or to either party
District Judge, Mandsaur, in 'Civil Suit No. 5 of 1960, rescinding the contract for sale of agricultural land in respect of which a decree ... Court in the same Civil Suit No. 5 of 1960 to rescind the contract for sale of land on the ground that defendant Kanhaiyalal
repudiates the contract, the vendor may retain the deposit. If where time is not of the essence of the contract the vendor rescinds after ... contract is not a benefit under the contract.
Sankaran Nair, J.
23. takes the view that there is only one contract and the stipulation with
