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Business Environment and Law-Law Of Contract (Indian Contract Act 1872)

Agreement In Restraint Of Legal Proceedings-Law Of Contract

   Posted On :  07.05.2018 10:16 pm

“Every agreement, by which any party thereto is restricted absolutely from enforcing his rights under or in respect of any contract by the usual legal proceedings in the ordinary tribunals, or which limits the time within which he may thus enforce his rights, is void to that extent”.

Agreement In Restraint Of Legal Proceedings
 
(Sec. 28) “Every agreement, by which any party thereto is restricted absolutely from enforcing his rights under or in respect of any contract by the usual legal proceedings in the ordinary tribunals, or which limits the time within which he may thus enforce his rights, is void to that extent”.

Exceptions-Arbitration Agreements: 


An agreement to refer all future as well as present disputes in connection with a contract, to arbitration is valid.

1. Uncertain Agreements: (Sec. 29) “Agreements the meaning of which is not certain or capable of being made certain, are void.”
2. Agreement By Way Of Wager:(Sec. 30) “Agreements by way of wager are void, and no suit shall be brought for recovering anything alleged to be won on any wager, or entrusted to any person to abide by the result of any game or other uncertain event on which any wager is made.
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