https://www.taxtmi.com/caselaws?id=155489 A complete substituted settlement that finally concludes earlier contracts extinguishes the prior rights and liabilities and replaces them with the new arrangement. On that footing, an arbitration clause embedded in the earlier contracts does not survive unless the settlement expressly or by necessary implication preserves it, because the clause has no independent existence apart from the contract containing it. The majority view treated the settlement as novation and upheld the award; the dissent characterised it as mere accord and satisfaction, saying the arbitration clause survived. en-us Thu, 21 May 1959 00:00:00 +0530 Fri, 14 Mar 2014 13:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=155489 A complete substituted settlement that finally concludes earlier contracts extinguishes the prior rights and liabilities and replaces them with the new arrangement. On that footing, an arbitration clause embedded in the earlier contracts does not survive unless the settlement expressly or by necessary implication preserves it, because the clause has no independent existence apart from the contract containing it. The majority view treated the settlement as novation and upheld the award; the dissent characterised it as mere accord and satisfaction, saying the arbitration clause survived. Case-Laws Indian Laws Thu, 21 May 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=155489