https://www.taxtmi.com/caselaws?id=104933 Section 55 of the Indian Contract Act, 1872 was applied to assess whether time was of the essence in a sale contract. The contractual terms, read as a whole, and the parties' correspondence did not support the High Court's finding of a conclusively essential delivery date or an implied extended date; that conclusion was unsustainable. Under Section 30 of the Arbitration Act, 1940, judicial interference with an arbitral award remained confined to narrow statutory grounds, and the High Court could not reappraise evidence or substitute its own factual findings. The arbitral award was restored and the challenge to it failed. en-us Thu, 16 Sep 1999 00:00:00 +0530 Sat, 02 May 2020 10:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104933 Section 55 of the Indian Contract Act, 1872 was applied to assess whether time was of the essence in a sale contract. The contractual terms, read as a whole, and the parties' correspondence did not support the High Court's finding of a conclusively essential delivery date or an implied extended date; that conclusion was unsustainable. Under Section 30 of the Arbitration Act, 1940, judicial interference with an arbitral award remained confined to narrow statutory grounds, and the High Court could not reappraise evidence or substitute its own factual findings. The arbitral award was restored and the challenge to it failed. Case-Laws Indian Laws Thu, 16 Sep 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104933