https://www.taxtmi.com/caselaws?id=172355 The court held that the agreement for Ram Chunder to purchase shares was contingent on his appointment as the sole agent. Since the company failed to fulfill this condition, Ram Chunder was not liable to contribute towards the liquidation. The objection of Ram Chunder was allowed with costs, and the liquidators were awarded costs from the estate. The judgment emphasized the importance of fulfilling conditions precedent in contingent contracts and upheld the principles of reciprocal promises under Indian Contract Law. en-us Wed, 13 May 1925 00:00:00 +0530 Wed, 19 Aug 2015 16:50:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=172355 The court held that the agreement for Ram Chunder to purchase shares was contingent on his appointment as the sole agent. Since the company failed to fulfill this condition, Ram Chunder was not liable to contribute towards the liquidation. The objection of Ram Chunder was allowed with costs, and the liquidators were awarded costs from the estate. The judgment emphasized the importance of fulfilling conditions precedent in contingent contracts and upheld the principles of reciprocal promises under Indian Contract Law. Case-Laws Indian Laws Wed, 13 May 1925 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=172355