Indian Contract Act Section 63 — Promisee may dispense with or remit performance of promisee
CHAPTER IV OF THE PERFORMANCE OF CONTRACTS — Contracts which need not be performed
Commercial / Corporate
Summary
Every promisee is allowed to give up or reduce, either completely or partially, the performance of the promise made to them. They may also choose to give more time for that performance to happen, or they may accept any other form of satisfaction they consider appropriate in place of the original performance.
Official Text
Every promisee may dispense with or remit, wholly or in part, the performance of the promisee made to him, or may extend the time for such performance1,or may accept instead of it any satisfaction which he thinks fit. Illustrations
Related Judgments
- CITI BANK N.A. vs STANDARD CHARTERED BANK AND ORS — Supreme Court of India (2003)
- ALL INDIA POWER ENGINEER FEDERATION & ORS. vs SASAN POWER LTD. & ORS. ETC — Supreme Court of India (2016)
- KAPUR CHAND GODHA vs MIR NAWAB HIMAYATALIKHAN AZAMJAH — Supreme Court of India (1962)
- SBI GENERAL INSURANCE CO. LTD. vs KRISH SPINNING — Supreme Court of India (2024)
- SECURITIES AND EXCHANGE BOARD OF INDIA vs RAJKUMAR NAGPAL & ORS — Supreme Court of India (2022)
