Void contracts in notified areas invalidate rights of members and knowing participants, while protecting unaware non members' enforcement rights. Contracts in areas notified under section 13 that contravene the bye laws specified under clause (a) of sub section (3) of section 9 are void as to the rights of exchange members who enter them and any other person who knowingly participated; however, a non member who lacked knowledge of the contravention retains the right to enforce the contract or recover sums under it.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Void contracts in notified areas invalidate rights of members and knowing participants, while protecting unaware non members' enforcement rights.
Contracts in areas notified under section 13 that contravene the bye laws specified under clause (a) of sub section (3) of section 9 are void as to the rights of exchange members who enter them and any other person who knowingly participated; however, a non member who lacked knowledge of the contravention retains the right to enforce the contract or recover sums under it.
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