Supreme Court · 2003 INSC 599 · Decided 4 November 2003
United Bank of India v. Ramdas Mahadeo Prashad and ORS.
- Court
- Supreme Court of India
- Citation
- 2003 INSC 599 · [2003] SUPP. 5 S.C.R. 129
- Case number
- CIVIL APPEAL No. 8132/2001
- Decided
- 4 November 2003
- Bench
- S.N. VARIAVA, H.K. SEMA (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Contract Act Section 62
Headnote
B Contract Act, 1872--Section 62-Enforcement of contract-Dispute between parties-Suit-During pendency parties arriving at Memorandum of Understanding and entering into compromise-However, parties not complying C with the terms and conditions stipulated in the Memorandum of Understanding and acting of Understanding does not amount to concluded contract or novation of contract under Section 62. Respondent filed suit regarding under-writing commitment in public D issue against appellant-bank. During pendency of the suit, parties arrived at Memorandum of Understanding (MOU) in which a
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