Question
Who may obtain specific performance of a contract
according to the provisions of Specific Relief Act?Solution
Section 15. Who may obtain specific performance.—Except as otherwise provided by this Chapter, the specific performance of a contract may be obtained by— (a) any party thereto; (b) the representative in interest or the principal, of any party thereto: Provided that where the learning, skill, solvency or any personal quality of such party is a material ingredient in the contract, or where the contract provides that his interest shall not be assigned, his representative in interest or his principal shall not be entitled to specific performance of the contract, unless such party has already performed his part of the contract, or the performance thereof by his representative in interest, or his principal, has been accepted by the other party; (c) where the contract is a settlement on marriage, or a compromise of doubtful rights between members of the same family, any person beneficially entitled thereunder; (d) where the contract has been entered into by a tenant for life in due exercise of a power, the remainderman; (e) a reversioner in possession, where the agreement is a covenant enered into with his predecessor in title and the reversioner is entitled to the benefit of such covenant; entitled to the benefit thereof and will sustain material injury by reason of its breach; (fa) when a limited liability partnership has entered into a contract and subsequently becomes amalgamated with another limited liability partnership, the new limited liability partnership which arises out of the amalgamation. (g) when a company has entered into a contract and subsequently becomes amalgamated with another company, the new company which arises out of the amalgamation; (h) when the promoters of a company have, before its incorporation, entered into a contract for the purposes of the company, and such contract is warranted by the terms of the incorporation, the company: Provided that the company has accepted the contract and has communicated such acceptance to the other party to the contract.
Which of the following statements accurately describes India's payment systems?
1) The Reserve Bank of India (RBI) is the primary regulator and ...
Under call money market, funds are transacted on an overnight basis and under notice money market, funds are transacted for a period between _________?
All expenditure of the Government is incurred from the Consolidated Fund of India can be drawn from the Consolidated Fund without due authorization from...
What percentage of India’s Public-Private Partnership (PPP) projects has IIFCL participated in, as per the Annual Report of IIFCL 2023-24?
...Sarfaesi action cannot be imposed if ____________.
Ninety- percent of Zen company limited total sales of 6,00,000 is on credit. If the year end receivables turnover is 5, the average collection period (b...
Which of the following is not one of the major economic challenges that posed threat to global growth, according to the Economic Survey of 2023?
How much was raised through IPOs by SMEs in 2023-24, as per SEBI Annual Report 2023-24?
Which one of the following is an example for Non-Banking Financial institution?
As per the Credit Guarantee Scheme for Micro and Small Enterprises, what is the maximum credit facility limit eligible for guarantee coverage when exten...