Negotiable Instruments Act, 1881 — Section 80

May 6th, 2013

Negotiable Instruments Act, 1881 — Section 80 — Interest on decretal amount against dishonour of cheque — Rate of interest to be awarded — Determination of — Held, in absence of contract between the parties, the court has discretion to award interest to the plaintiff in a suit for the amount constituting price of the goods from the date of tender of the goods or from the date on which the price of the goods was payable — Therefore, plaintiff is entitled to interest at the rate of 18% per annum and the interest would be payable from the date on which the principal amount ought to have been paid by the defendant to the plaintiff — Civil Procedure Code, 1908 — Section 34 — Sale of Goods Act, 1930 — Section 30.

Nath Sah v. Lal Durga Sah, AIR 1936 Allahabad 160, Ghasi Patra v. CS(OS)No. 1450/2006 Brahma Thati, AIR 1962 Orissa 35, Bishun Chand v. Audh Bihari Lal, AIR 1917 Pat 533 & P. Mohan v. Basavaraju, AIR 2003 Karnataka 213, Relied on.

(Para 5)

Ranbir Singh Bhardwaj v. R.K. Kapadia, CS (OS) No. 2493/2009(20/09/2012), 2012(194) DLT 94 [V.K. Jain, J.]

Entry Filed under: Commercial Laws