Tag: Contract Law
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Frustration in Indian Law
[Posted by Mihir Naniwadekar] On this blog, we had previously looked at the judgment of the Supreme Court of India in Energy Watchdog v. CERC and connected appeals. An earlier post had examined the decision, and had concluded that the Court “arguably misstated the law when it found that the mere existence of a force majeure clause…
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Force Majeure Clauses and Impossibility Under the Indian Contract Act
[Posted by Umakanth Varottil] Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:””; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:12.0pt; font-family:Cambria; mso-ascii-font-family:Cambria; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Cambria; mso-hansi-theme-font:minor-latin;} [Post by Isha Jain, who is a 4th year student at the National Law School of India University,…
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A Proposal for Dealing With Force Majeure Clauses Under Contract Law
[Posted by Umakanth Varottil] [Post by Siddharth Bajpai, who is a 4th year student at the National Law School of India University, Bangalore. Normal 0 false false false EN-IN X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:””; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:Calibri;…
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Supreme Court on Force Majeure Clauses in Power Purchase Agreements
[Posted by Umakanth Varottil] Normal 0 false false false EN-IN X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:””; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:Calibri; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-ansi-language:EN-IN;} [Other posts related to this topic are available here and here.] In 2013, we…
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Disgorgement Orders under Indian Securities Law
[Posted by Umakanth Varottil] [The following guest post is contributed by Shubham Janghu, a third year student at Jindal Global Law School with inputs and minor edits by Aditya Swarup, who is an Assistant Professor at Jindal Global Law School.] Introduction Gain-based remedies, though rarely adjudicated in India, are an important aspect of commercial law.…
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Supersession of Bond Terms by State Legislation Disallowed
[Posted by Umakanth Varottil] In Kalyan Janta Sahakari Bank v. State of Gujarat, a division bench of the Gujarat High Court was concerned with whether a legislation passed by the Gujarat State Legislature can unilaterally alter the terms of an issue of bonds by the government company to the detriment of the bond investors. The…
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Lalman v Gauri Dutt: Legend and Reality
[Posted by V. Niranjan] (The following guest post is contributed by Shivprasad Swaminathan, who is Associate Professor at the Jindal Global Law School) “As has often happened, in the law the case [becomes] more important not for what the judges said but for what the legal profession came to believe the case stood for.” P. Atiyah, Rise…
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Assignability of Life Insurance Policies
[Posted by Umakanth Varottil] The controversial practice of companies taking out “dead peasants” insurance on the life of their employees was depicted by Michael Moore in his film “Capitalism: A Love Story”. In this, companies took insurance policies on the lives of their employees and also paid the premium on them. In case of the…
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Contract Depriving a Party of Interest: Immorality and Public Policy
[Posted by Umakanth Varottil] [The following guest post is contributed by Amitav Singh, a fourth-year student at the National University of Advanced Legal Studies (NUALS), Kochi] In a recent decision in Union of India v. M/s NK Garg & Co. (“NK Garg”), decided on 2 November, 2015, a single judge of the Delhi High Court…
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Exclusive and Non-Exclusive Jurisdiction
[Posted by V. Niranjan] We have discussed the judgment of the Supreme Court in Swastik Gases on the construction of jurisdiction clauses. Its conclusion there is no rule of law that a clause cannot confer exclusive jurisdiction unless it uses words of exclusion (“only”, “exclusive” etc) is plainly correct. But this gives rise to a…