Supreme Court · 1987 INSC 94 · Decided 3 April 1987
K.P. Subbarama Sastri & ORS. ETC. v. K.S. Raghavan & ORS. ETC.
- Court
- Supreme Court of India
- Citation
- 1987 INSC 94 · [1987] 2 S.C.R. 767
- Case number
- CIVIL APPEAL No. 85/1972
- Decided
- 3 April 1987
- Bench
- V. KHALID, G.L. OZA (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Contract Act Section 74
Headnote
B ~ Contract Act, 1872: s. 74--Kuris a~d Chitties-Prized subscriber executing bond-Provision for payment in lump sum with 12% interest on default-Whether unconscionable and penal. • ,,..,- Kera/a Chitties Act, 1975: ss. 6, 7 & 28-Prized subscriber de- c faulting to pay un- conscionable and penal. The respondents who were subscribers to a Kori (Chit Fund) in 1962, committed default after they had prized the tickets and realised D the amounts. The bonds executed by them contained a provision that in case of default they would be liable to pay all tbe future
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