https://www.taxtmi.com/caselaws?id=199212 The plaintiff appealed against a bank for the recovery of a balance due under an overdraft contract. The bank notified the plaintiff of increased interest rates, which the plaintiff did not object to. The plaintiff later claimed a balance due after the sale of cotton, ignoring the raised rates. The court held that the plaintiff was bound to pay the higher rates based on implied acceptance, as there was no protest or account clearance after receiving the notifications. The judgment emphasized that acceptance must be absolute and unqualified under the Contract Act, and the plaintiff's acceptance of a further loan implied acceptance of the higher rates. en-us Mon, 28 Feb 1927 00:00:00 +0530 Thu, 22 Feb 2018 18:41:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199212 The plaintiff appealed against a bank for the recovery of a balance due under an overdraft contract. The bank notified the plaintiff of increased interest rates, which the plaintiff did not object to. The plaintiff later claimed a balance due after the sale of cotton, ignoring the raised rates. The court held that the plaintiff was bound to pay the higher rates based on implied acceptance, as there was no protest or account clearance after receiving the notifications. The judgment emphasized that acceptance must be absolute and unqualified under the Contract Act, and the plaintiff's acceptance of a further loan implied acceptance of the higher rates. Case-Laws Indian Laws Mon, 28 Feb 1927 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199212