Supreme Court · 1974 INSC 269 · Decided 12 December 1974
Firm of Pratapchand Nopaji v. Firm of Kotrike Venkatta Setty & Sons ETC.
- Court
- Supreme Court of India
- Citation
- 1974 INSC 269 · [1975] 3 S.C.R. 1
- Case number
- CIVIL APPEAL No. 2382/1968
- Decided
- 12 December 1974
- Bench
- M. HAMEEDULLAH BEG, V.R. KRISHNA IYER, P.K. GOSWAMI (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Contract Act Section 222, 23
Headnote
Indian Co111ract Act (9 of 1872) Section 23, 222 and 224-Scope of-Col­ lateral aweement, whm illegal. The appellant firm sued for amounts as due to indemnify it under s. 222 of the Contract Act, on the strength of payments said to have been made by the firm to third parties on behalf of the to have directed the appellant to enter into 'Badia' transactions for them. These transactions are contracts for speculation in rise and fall of price of groundnut and oilseeds purchased only notionally without any intention to actually deliver them to the purchasers. In such a transaction,
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